Crypto

NFT: The Girondins of Bordeaux have signed a contract with Sorare

The Girondins of Bordeaux announced on Thursday that they have signed an exclusive partnership with Sorare, the French unicorn that has reinvented the collectible card model by allowing players to capitalize on their success. An agreement through which a club hopes to achieve publicity while receiving royalties from the sale of its players’ cards.

Football and cryptocurrency fans can now enjoy their own transfer window with Football Club des Girondins de Bordeaux (FCGB) players. Like ten other Ligue 2 teams, the Girondins have just officially registered on Sorare, a French platform that offers to collect virtual football cards. Similar to a team manager, the Sorare user is then asked to line up five players from the cards they hold to compete in virtual competitions that will allow them to win rewards, with the results calculated based on the performance of real players on the field. .

Added to this playful mechanism, inspired by games like Mon Petit Gazon or Football Manager, is a component that makes Sorare a real highlight: if the game is available for free, the real collection starts with putting your hand in your wallet to treat yourself to cards with a limited circulation. They are in the form of NFT (Non-Fungible Token), i.e. a digital asset, the ownership of which is confirmed by a record in the blockchain, and are issued in several series, depending on their rarity, from one to 1000 copies. Renewed every season and indexed to the Ethereum cryptocurrency (Bitcoin’s competitor), these cards are reserved for competitions with rewards that take the form of either new rare cards or directly from Ethereum.

$4.3 billion company

All this gives Sorare a certain interest for speculators: the platform allows users to buy and sell cards with increasing value for the most sought-after football players. So for 2021, Sorare requires $325 million in transactions. The dazzling success of Sorare, launched in 2019 and already present internationally, has made it one of the most valuable startups in France: in September 2021, the Paris-based company completed a $680 million fundraiser led by Japanese Softbank. , which values ​​it at $4.3 billion and gives it the ability to negotiate directly with the major sports leagues or clubs to secure exclusive use of their player image in NFT form.

Visibility and new income for the club

“For FC Girondins de Bordeaux, the partnership with Sorare represents a unique opportunity to make itself known with the more than two million football fans worldwide already registered on the platform and to offer a new experience to fans who are already used to it. stands of the Stade Matmut Atlantique”, welcomes the Girondin club in a press release. The agreement with Sorare should also result in a new line of income as the platform buys the rights to the image. He also becomes one of the club’s premium partners, along with sponsors such as Bistro Régent, Cupra and Crédit Mutuel du Sud-Ouest. The platform also rewards clubs when issuing cards featuring their players with a percentage that can vary from 5% to 15% depending on the contract.

Gambling?
The question remains, which the National Gambling Authority (ANJ), the administrative body responsible for regulating online gambling, has recently decided to answer: whether Sorare’s activities should be considered as online betting and therefore subject to the same restrictions as on specialized players such as Betclic. or La Française des Jeux, starting with a ban on minors or proof of identity?

According to Le Monde, a meeting between the ANJ and Sorare leaders is scheduled for early September to clarify the status of this new activity. “We have a conviction, backed by strong legal arguments and daily feedback from our users, that what Sorare and many French and European players offer is a new model that does not fit into any existing framework. Make no mistake: it is normal that the rules apply to this new category that we created in France, and this is the subject of our active discussions with the regulators. These rules should just be for who we are, not who we are not,” commented Nicolas Julia, co-founder and CEO of Sorare.

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