Sorare involves an in-game cryptocurrency, but Julia said he plans to change this, calling it the “last remaining friction” for players who want to avoid cryptocurrencies’ volatility. La Liga is the latest football stakeholder and first major European league to jump into the world of cryptocurrencies with the exclusive long-term deal. Julia said 87 per cent of current users play the game without spending money on the platform. September 10 Spain’s LaLiga is launching non-fungible token fantasy football cards for all its players, entering a partnership with the French platform Sorare. it’s a collectible that you can play in a game.” “We never market the game as an investment. Julia said the company, which has more than 3 million users, has “trended very differently from the rest of the space” because its NFTs have “utility value”. The average sale price of a Sorare NFT dropped to around US$38 in December, down from a peak of US$281 in March 2021, but the number of Sorare monthly buyers and transactions is near an all-time high, according to blockchain tracker CryptoSlam. The lack of regulatory oversight for crypto and NFTs is obviously something which supporters should be aware of,” the FSA added. “Supporter engagement shouldn’t be monetised. Members of the Football Supporters’ Association (FSA), which represents fans in England and Wales, “have been raising concerns about crypto-based engagement partnerships at their clubs for many years,” a spokesman said, commenting on football’s engagement with crypto in general, before Sorare’s announcement.
Proponents say they can be used to increase fan engagement, but critics say they risk encouraging financial speculation. Many top football teams and sports stars promoted crypto assets – such as NFTs or “fan tokens” – to supporters during the boom.
#Spain liga french sorare nfts series#
NFTs surged in 2021, but prices and sales volumes plunged in 2022 as investors turned cautious and the crypto industry was rocked by a series of high-profile collapses.
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