SNEAK PEEK
- Sorare is launching the beta version of its NFT-based NBA fantasy basketball game.
- Players can create their own basketball team with NFT cards representing the players.
- They can enter the tournament and earn rewards for their playing performance.
Sorare released the first look of its SorareNBA cards on Twitter on 18th October 2022. The online gaming platform will be soon releasing the beta version of its NFT-based NBA Basketball game where players can play using digital NBA cards.
BREAKING: Official first-look at the @SorareNBA cards 🔥 pic.twitter.com/DJBIQPwJ8L
— SorareNBA (@SorareNBA) October 18, 2022
This new NBA Basketball game will be a new addition to already existing premium games on the platform including Sorare: Major League Baseball game and soccer game and Sorare: Football games.
Big reactions from the hoops fam following our big launch yesterday 🏀👏
— SorareNBA (@SorareNBA) October 19, 2022
Don’t forget to build out your lineups NOW
🔗https://t.co/lkpXYDH5pK #OwnYourGame pic.twitter.com/IpKzv4QqlE
The players can create their own teams using the NFT cards which represent players. They can collect the NFT cards for free or buy them. Once they create their own team using the Soarare NBA cards, they can enter the tournament.
The performance of their team will depend on how the players are performing in real world matches. Players will also receive exclusive rewards based on the performance of their team.
Michael Meltzer, head of business development at Sorare said in an interview with GamesBeat,
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,
He also added,
Just given the star power of NBA players, it fits within the global nature of our product and the international community that we have in over 185 countries.
Sorare: NBA game will have 5,000 Limited cards, 1,000 Rares, 100 Super Rares, and 1 Unique. The players will play as Champions or Contenders and each one of them will have a five player line. The competition will work on a point cap system that will introduce fairness in the online game competition.
Michael also expressed his views on the merger of NFT technology with the sports world. He said,
We look at NFTs as an underlying technology, not a market. And so we think there are lots of different unique use cases and applications. Our fantasy sports entertainment product leverages blockchain to bring ownership to the game. And we think that’s completely different than anything that’s been on the market, particularly with the NBA, whether in Web three or elsewhere.
As of now, Sorare has over 2 million users across 185 countries. The company generated around $325 million in sales in 2021 – a +3885% YoY growth compared to 2020.
Last year the company successfully cracked a deal of over $680 million on a valuation of $4.3 billion deal with Softbank.
Its collaboration with NBA, MLB, and other multiple soccer leagues made it possible for Sorare to achieve such milestones. MLB is one of the renowned American Baseball associations whose collaboration with Sorare launched the Sorare:MLB Baseball Game.
MLB or Major League Baseball is also entering the Web 3.0 space by launching its own NFT marketplace Digital Candy. The company is also hiring for licensing manager who will assist the company’s expansion into digital gaming, NFT, and metaverse licensing projects.
