Compared to a peak of almost $280 in March of last year, the average retail price of a Sorare NFT in August was $86.14.
According to a statement released by Sorare on Thursday, the French blockchain-based sports firm is expanding its cooperation with the Liverpool football team to further strengthen its links to the cryptocurrency community.
An exclusive multi-year partnership with Liverpool has been announced by Sorare, a firm that offers licenced digital sports cards for use in online fantasy sports games where players may put up teams to compete against one another.
Non-fungible tokens (NFTs), a type of crypto asset that tracks the ownership status of digital commodities on the blockchain, are used to purchase and exchange the game’s playing cards.
According to a new agreement, rewards for the online game will include trips to the Liverpool stadium, activities related to match days, goods, and video material. A previous agreement from 2021 saw the introduction of Liverpool cards on the site.
Although the enthusiasm has subsided in recent months, sports-related collectibles have proven to be a popular sort of NFT as the digital assets market grew into a multibillion-dollar sector last year.
According to market watcher CryptoSlam, the average sale price of a Sorare NFT in August was $86.14, down from a high of almost $280 in March of last year.
The gaming commission in Britain is looking into Sorare to see whether or not the game constitutes gambling.
A spokeswoman for Sorare stated, “Sorare is quite certain that it does not provide any types of gambling, and this has been confirmed by professional legal views at every point since the company was created, even when negotiating new agreements.”
According to Sorare, it has agreements with more than 280 million sports organizations and over 2 million users globally, including Major League Baseball in the United States and UK football teams.
