Liverpool football club is getting closer to the crypto world by expanding its partnership with Sorare, a French blockchain-based sports startup, according to a statement from the company on Thursday.
Sorare’s online fantasy sports game sells licensed digital sports cards that players can use to build teams that compete against each other. Sorare said it had an exclusive multi-year partnership with Liverpool to make content and experiences for fans.
Non-fungible tokens (NFTs), a type of crypto asset that keeps track of who owns digital goods on the blockchain, are used to buy and sell the game’s cards.
Under a deal from 2021, Liverpool cards were added to the platform. Under the new deal, winners of the online game will get things like trips to the stadium, experiences at games, merchandise, and video content.
As the digital assets market exploded into a multibillion-dollar industry last year, sports-related collectibles were one of the most popular types of non-fungible tokens (NFTs). However, the frenzy has died down in recent months.
According to market tracker CryptoSlam, the average price of a Sorare NFT in August was $86.14, down from a high of around $280 in March of last year.
The gambling watchdog in Britain is looking into Sorare to see if its game is gambling. A Sorare representative said that this didn’t have anything to do with the partnership with Liverpool.
“Sorare remains very confident it does not offer any forms of gambling, and this has been confirmed by expert legal opinions at every stage since the company was founded, including when signing new partnerships,” the spokesperson said.
Sorare says it has more than 2 million users around the world and partnerships with more than 280 million sports organizations, such as Major League Baseball in the US and UK football clubs.