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Premier League invests in NFT: Sorare?

According to a recent report, UK’s Premier League is in talks with two NFT companies over a project to mint soccer-themed tokens. The deal could be worth as much as £30 million per year.

Sorare is neither the initial nor the only cryptocurrency company to negotiate with the Premier League. The present £30M contract with the French company replaced an older contract with ConsenSys. The value of the contract with ConsenSys is reported to be £400 million.

ConsenSys attempted to renegotiate the deal due to the continued “crypto winter” that is causing severe problems for NFT markets, with volume down 68% year-over-year. The Premier League scrapped the deal in favor of one with Sorare, that it apparently named more profitable.

Reportedly, the Premier League is negotiating a deal worth £30 million per year deal with the French company Sorare. The program would most likely entail minting NFTs based on images of famous players which would be sold as unique digital memorabilia to fans.

According to a report, the Premier League has scheduled a meeting with UK’s major soccer clubs like Tottenham and Manchester City. If an agreement is reached between the organization and the clubs, the multi-year deal could be closed within weeks.



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