Sorare, the football trading card phenomenon, has added to its clout with a massive round of Series B funding. Sorare broke the NFT fundraising record by raising a whopping $680 million for their cause.
Sorare has established themselves as a force to be reckoned with after securing incredible financial backing and receiving the largest single investment in NFT history. SoftBank Vision Fund, LionTree, Bessemer Ventures, IVP, Hillhouse, and Atomico contributed the majority of the funds. This raises Sorare’s company valuation to a mind-boggling $4.3 billion.
Sorare will use the funds to expand their gaming enterprise by establishing a US branch of operations and, as a result, broaden their trading card vision to a new range of sporting organizations, including American Football, Basketball, and Baseball.
In 2021, the pioneering NFT platform experienced unprecedented growth. Sorare has changed hands for $150 million since January 2021, and it now has over 500,000 registered users. It’s a competitive niche in the NFT market, and the world is waiting with bated breath to see how their competitors respond.