France enters first of a kind partnership to launch NFT cards

CAC 40 index continues to trade in a bull market, although France's economy contracted 0.1% in the first quarter of 2021

Creator of football Non-Fungible Token (NFT), Sorare, has entered a partnership with the France Football Federation for the launch of digital trading cards for the national team. This is coming amidst the ongoing Euro 2020.

In the past, Sorare’s partnership has been with club-based cards, purchased and sold using cryptocurrencies. However, the company has gone a step further to involve national teams in the NFT project.

According to Sorare, the plan is to expand its reach to national team fan bases and this move is the “first of many.”

Hitting $1 billion in card sales by 2024

Sorare also stated the number of users on its platform, saying it is averaging 90,000 monthly. Sorare said the company has sold over $70 million in cards140 countries since the beginning of the year.

Nikolas Julia, the firm’s Chief Executive Officer, stated that the goal of the company is to hit $1 billion in annual card sales by 2024.

The new digital card of the France national team will be joining 140 other licensed teams previously supported by Sorare.

These teams include Real Madrid, Paris Saint-Germain, Liverpool, Bayern Munich, and Juventus.

The company says the partnership is coming at the right time, considering that France, the reigning world champion, is also involved in the European championship.

Cards to be used as the club versions

Julia added that the company is making history by welcoming the world champions to the NFT world through a unique collaboration.

The licensing deal will enable the creation of NFT digital cards for the France men’s national team for the euro tournament. According to the announcement, the cards will have the same use as the club versions.

The post France enters first of a kind partnership to launch NFT cards appeared first on Invezz.

Publication date: 
06/15/2021 - 09:31

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