Sorare Expands Gaming Ecosystem with NFT-based Fantasy Basketball Game

Web3 company Sorare has expanded its NFT gaming ecosystem after teaming up with the NBA to launch a fantasy basketball game.
Image source: CrunchBase

Quick take:

  • Sorare has collaborated with the NBA to launch an NFT-based fantasy basketball game.
  • The game expands the web3 platform’s gaming ecosystem following its earlier launches for soccer and baseball in the US.
  • The officially-licensed NFT fantasy basketball game is expected to debut this fall.

Sorare has collaborated with the National Basketball Association (NBA) to launch an NFT fantasy basketball game. The web3 company is expanding its NFT gaming ecosystem following its previous collaborations with Major League Soccer (MLS) and Major League Baseball (MLB) for similar projects.

The company has also teamed up with several soccer teams in Europe including its most recent partner AC Milan, as well as, global football associations like Argentina. The company has also attracted French football star Kylian Mbappe as an investor.

Sorare’s officially licensed NFT fantasy basketball game dunned “Sorare: NBA” will debut this fall, according to the announcement.

Sorare NFT games allow players to buy and sell digital cards representing players. This game gives them access to some of the most popular athletes in the NBA.

Players will then be able to create their own teams based on the collected digital cards and earn points based on the real-life performances of the players.

The NBA has been a popular figure in the NFT space. One of its most popular projects hit the blockchain last year after partnering with Dapper Labs to launch NBA Top Shot NFTs. Since then, it has amassed a total transaction volume of more than $1 billion, putting it in the seventh spot in the all-time ranking, according to CryptoSlam data.

Sorare boasts a user base of about 2 million most of whom are based in Europe and Asia. Its exploits in America are yet to gain traction despite sealing deals with some of the top sporting organisations.

However, given the popularity of the NBA Top Shot NFTs, the web3 company could find it easier to onboard American users to its NFT-based fantasy basketball game than it has its previous games.

The company has transacted over $421 million in cumulative NFT sales volume and ranks 13 overall as per CryptoSlam data.

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