A blockchain based fantasy soccer game has won over another famous European club. The German record-holder FC Bayern Munich has entered into a partnership with the company, and enters the world of blockchain soccer cards.
The blockchain platform Sorare has the vision to combine soccer cards with the blockchain technology. Since its launch in May 2020, the platform has seen steady growth in terms of trading volume, reaching peaks of USD 230,000 per week (see chart below). Sorare acquires the rights to the images of the players from the football clubs and sells the “blockchain card” via “non-fungible tokens (NFTs)” and subsequently via online auction. The growth of traded images on the blockchain is due to a growing community and new club licenses.
Traded volume per week
A short explanation of how the fantasy soccer game works:
- Sorare acquires the image rights for the players from the football clubs, and then sells the “blockchain card” at a profitable online auction.
- Compared to the classic soccer cards, the trading cards are not sold in surprise packages, but the user can decide for himself on which card/player he wants to bid.
- Thanks to the blockchain technology, the identity of the owner of a particular player is always documented.
- The purchased cards can then be used in a reality-based competition: The players are evaluated on the basis of their performances in real life (e.g. won duels or scored goals) and accordingly the player’s “blockchain card” receives points.
- The user who has collected the most points at the end of the game day receives prizes such as new trading cards or Ether.
FC Bayern Munich joins the game
FC Bayern Munich has now also joined the blockchain project – as confirmed in an official press release. They have thus become the 102nd licensed club of the fantasy soccer game. Sorare has confirmed the entry of the current Champions League winner on Twitter.
— Sorare (@SorareHQ) November 10, 2020
“FC Bayern Munich always looks ahead and always keeps an eye on the well-being of its fans with innovations and newly created experiences. That’s why we decided to stay on the ball digitally and participate in Sorare’s unique fantasy football game. Football fans have been collecting and exchanging physical player cards for decades. From now on, they can enter the digital collector’s world with Sorare cards. Each digital player card is unique and is covered by the blockchain technology.” – FC Bayern Munich
Through games with so-called non-funglible tokens (NFTs), the blockchain technology is slowly finding its way into the mainstream. The gaming sector is one of the most receptive industries for new technologies. It is therefore no surprise that the blockchain technology is also being used in this sector. Also, a Japanese eSports team has recently announced that in the future they will pay their players in crypto currencies.