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About Sorare
Industries
Crypto & Web3
Consumer Goods
Gaming
Company Size
51-200
Company Stage
Series B
Total Funding
$716.5M
Headquarters
Saint-Mandé, France
Founded
2018
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. Unlike other fantasy sports platforms, Sorare emphasizes the ownership of digital collectibles, allowing users to engage in both gaming and collecting. The company's goal is to provide an engaging experience for sports fans, gamers, and collectors while generating revenue through card sales, transaction fees, and premium features.
Simplify's Take
What believers are saying
- Growing interest in NFT-based fantasy sports boosts Sorare's market potential.
- Launch of Rivals game attracts broader audience with dynamic gameplay.
- List-or-play functionality in Sorare NBA enhances user engagement and flexibility.
What critics are saying
- UK legal issues over unlicensed gambling could impact Sorare's operations.
- Increased competition from RealFevr may affect Sorare's market share.
- Layoffs indicate potential financial instability or strategic restructuring at Sorare.
What makes Sorare unique
- Sorare combines digital collectibles with fantasy sports, creating a unique gaming experience.
- The platform uses blockchain to ensure authenticity and scarcity of digital assets.
- Sorare offers officially licensed digital player cards for football, baseball, and basketball.
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Funding
Total Funding
$716.5M
Above
Industry Average
Funded Over
3 Rounds
Bessemer Venture Partners
Benchmark
SoftBank
AccelIndustry standards
Benefits
Health Insurance
Wellness Program
Unlimited Paid Time Off
Phone/Internet Stipend
Stock Options
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↓ -1%2 year growth
↑ 2%Back then, the UK regulator launched an investigation into whether Sorare's use of NFTs and cryptocurrency violated gambling laws.
Sorare was charged with violating the Gambling act 2005 in the regulator's first move against a blockchain-based platform.
Sorare faces legal struggles over unlicensed gambling charges.
1. ContentsquareFollowing its $400M Series F fundraise in 2022, things never seem to go quiet for Contentsquare. Founded in Paris, the UX software and analytics vendor has raised $1.4B in investment funding and boasts an R&D team of over 700 people. Their acquisition of Heap in December 2023 aims to broaden analytics stored by increasing capacity to monitor customers on the platform.2. MiraklThe Paris-based SaaS generated over $150 ARR in 2023. Mirakl provides provide online marketplace software to retailers, manufacturers and wholesalers and seem healthy as ever following a grant of €100 million revolving credit last August.3
Sorare is not shutting down its New York office.
There are no jobs for Sorare right now.
Find jobs on Simplify and start your career today
About Sorare
Industries
Crypto & Web3
Consumer Goods
Gaming
Company Size
51-200
Company Stage
Series B
Total Funding
$716.5M
Headquarters
Saint-Mandé, France
Founded
2018
There are no jobs for Sorare right now.
Find jobs on Simplify and start your career today