Digital soccer collectibles platform Sorare is expected to announce that it will receive $532 million in funding, according to a Business Insider report Wednesday.
- The Paris-based company’s valuation could exceed $3.8 billion, the article said, based on comments from three unnamed sources. The amount would represent the largest capital raise in the history of France's technology sector, according to the story.
- Japanese investment firm SoftBank is prepared to lead the funding round and Atomico, a U.K.-based venture firm, will also take part.
- Sorare raised $50 million in Series A funding round in February that was led by venture capital firm Benchmark and that included investments from Reddit co-founder Alexis Ohanian, former soccer stars Rio Ferdinand and Oliver Bierhoff, and current standouts Gerard Pique and Antoine Griezmann.
- A number of Europe’s most powerful club teams, including Bayern Munich, Juventus, Real Madrid and Liverpool have launched non-fungible tokens (NFTs) through the platform.
- Asked by CoinDesk Wednesday to confirm the report, Sorare said that it did not have “anything to announce.”
Disclosure
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.