Next NBA Top Shot? Soccer Digital Card Company Raises $50 Million in Funding
Photo by Nicolò Campo/LightRocket via Getty Image. Pictured: Cristiano Ronaldo.
As NBA Top Shot takes over the collectible world, with more than $200 million in marketplace sales in the last month, other digital collectibles are seeing a significant bump.
The focus has helped Sorare, a digital card site focused on soccer, raise an impressive $50 million from investors including influencer and early tech investor Gary Vaynerchuk and Reddit co-founder Alexis Ohanian. The group also includes Barcelona striker Antoine Griezmann. A valuation for the company was not disclosed.
This round brings the total funding to $60 million. The new funds will go toward hiring and launching a mobile app.
Sorare offers players from more than 130 football clubs and sales of the digital cards have topped $4.2 million, a figure up 52% over the last three months. The company says its goal is to add the top 20 leagues globally.
A Cristiano Ronaldo card recently sold for $102,000, the largest sale on the platform to date. Like all digital art, the cards come in varying degrees of limited edition. Sorare also ties in fantasy as collectors get points for how their portfolio of players do in real life.
Sorare is the latest player in the non-fungible token (NFT) world. NBA Top Shot has four individual card sales of at least $100,000 so far, including a LeBron James highlight that sold for $208,000. One of the differences between Sorare and Top Shot is Sorare features just digital cards while Top Shot is highlights of plays.