The Premier League is joining forces with the French fantasy sports platform, Sorare, to offer digital sports cards of players from all 20 Premier League clubs. The agreement, which could be worth around $37.13 million annually, signals the sporting world's ongoing embrace of digital assets despite market fluctuations.
Through Sorare, the cards can be bought and traded as non-fungible tokens (NFTs) using either cryptocurrency or traditional currency. The Paris-based company recently raised $680 million at a $4.3 billion valuation in a SoftBank-led funding round.
The British Gambling Commission has been assessing whether Sorare's game constitutes gambling since 2021, while the French gambling regulator has requested certain changes to the game, such as an expansion of the free-to-play option.
Commenting on the deal, Premier League Chief Executive, Richard Masters, said:
"The way that supporters follow their favourite teams and players is changing, and the Premier League is always looking for ways to engage with fans."