Sorare is breaking records in the world of sports NFT as it confirmed a $680 million Series B raise today which is the largest ever in the NFT world.
Among the lead investors were SoftBank Vision Fund, LionTree, Bessemer Ventures, IVP, Hillhouse, and Atomico.
The funding round has put the value of the company at $4.3 billion.
Sorare has revealed that it has traded more than $150 million worth of digital cards since the beginning of the year and that it has more than 600,000 registered users as of now.
Between Q2 2020 and Q2 2021, Sorare registered an increase in its sales of 54x.
The new funds will be used to increase the growth of the company and to venture outside the limits of soccer collectibles. The head of operations at Sorare, Thibaut Predhomme said:
“We are the only ones that have bridged the gap between the game, collectibility and utility over the lifetime of sports NFTs. U.S. companies are more about collectibility, so no, I’m not worried about them competing in the European market.”