Sorare launches beta for NFT-based NBA fantasy sports game
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Sorare is launching the beta for its NFT-based NBA fantasy basketball game played with digital collectible cards.
The Sorare: NBA Beta game is a big addition to Sorare’s lineup, which includes a Sorare: Major League Baseball game and soccer game, Sorare: Football, as well. Players can collect free cards or buy NFTs, or non-fungible tokens.
Fans will create and manage teams with NFTs representing NBA players. Then they can enter tournaments and see the results based on how players do in the real world. Players can start with free card, but they have the option to pay for NFT (non-fungible token) cards. They can keep playing with these cards and earn rewards or resell them on the marketplace for real money.
The game uses blockchain technology based on Ethereum and was first developed in 2018 by Nicolas Julia and Adrien Montfort in Paris. The partnerships with the NBA, MLB and multiple soccer leagues is why Sorare was able to raise $680 million on a $4.3 billion valuation in a deal with SoftBank last year.
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“This is our third sport, alongside football and MLB. And we’re really excited about this sport, as securing the NBA was one of the top goals of the company from the day that I joined a year ago,” said Michael Meltzer, head of business development at Sorare, in an interview with GamesBeat. “Just given the star power of NBA players, it fits within the global nature of our product and international
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