This week we thought we’d take another dive into the intersection of NFTs and sports. This is because the Premier League has taken new strides into web3 by penning a deal with the NFT digital trading card game Sorare. This four-year agreement will allow users to purchase and use official Premier League licensed NFTs under an exclusive multi-year agreement. Sorare is a multi-billion dollar company which mints NFT cards which have different rarities and allows users to battle it out in five-a-side matches in which the performance of your card corresponds to the performance of the players they represent. Sorare already has deals with other major sports leagues, such as the NBA and MLB.
Many readers will have grown up with trading card games or sticker albums. There was a time when playgrounds were full of kids with collectors binders and piles of cards haggling out deals, trying to intuit the value of your extra Thierry Henry shiny card in terms of Blackburn Rovers benchwarmers. Time has moved on, with new forms of collectibles occupying the minds of fans- NFTs are the perfect medium for this, slipping seamlessly into the space with slick designs and proof of ownership even more secure than sticking it in your trouser pocket. It is also accessible for both adults and younger people, as the gaming use gives value to the asset. This bridges the gap between the traditionally adult-dominated fantasy football and traditionally youth-dominated trading cards.
Football fans tend to be very loyal consumers. Eager to feel a connection to their team throughout their life- whether this be through watching games, buying jerseys, or proving their superior knowledge of the game through fantasy football. The Premier League and Sorare offer a clear opportunity for NFTs to become a part of the furniture of football fan culture. A core component of the fan experience in the same way as buying a scarf or a match programme is. At Stratisphere we are excited to see NFTs become a key component of the sports and gaming experiences.
