Overview

Sorare operates a fantasy sports platform that merges digital collectible cards with fantasy games for football, baseball, and basketball. Users can buy, sell, and trade officially licensed digital player cards, which they use to compete in fantasy leagues. The platform utilizes blockchain technology to guarantee the authenticity and scarcity of these digital assets. Sorare's revenue comes from card sales, transaction fees, and premium features. What sets Sorare apart from its competitors is its focus on combining gaming with digital asset ownership, appealing to a wide range of sports fans, gamers, and collectors. The company's goal is to create an engaging and competitive experience for sports enthusiasts while promoting the ownership of digital collectibles.

Simplify's Take

What believers are saying

• Growing interest in digital collectibles and NFTs boosts Sorare's market potential.
• Blockchain integration in gaming is expanding, aligning with Sorare's platform model.
• Global fantasy sports market growth provides a favorable environment for Sorare's expansion.

What critics are saying

• UK Gambling Commission charges could lead to legal and financial repercussions for Sorare.
• Increased competition from RealFevr may impact Sorare's market share and growth.
• Recent staff layoffs suggest potential financial instability or strategic restructuring.

What makes Sorare unique

• Sorare combines digital collectibles with fantasy sports, offering a unique gaming experience.
• The platform uses blockchain to ensure authenticity and scarcity of digital assets.
• Sorare targets sports fans, gamers, and collectors with officially licensed digital player cards.

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Funding

Total Funding

$736.6M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:

Bessemer Venture PartnersBenchmarkSoftBankAccel

Notable Investors:

Bessemer Venture PartnersBenchmarkSoftBankAccel

$680,000,000

Series B

Sep 2021

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Above Average

Industry standards

Ind Avg. $35M

$4M

$30M

$45M

$65M

$100M

$680M

View all funding stages