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Italian soccer teams are launching NFTs on the digital sports collectibles platform Sorare. 

Jun 16 2021

Italian soccer teams are launching NFTs on the digital sports collectibles platform Sorare. Soccer fans across Italy can now trade collectible digital player cards in NFT form on the fantasy football platform, which boasts membership from 11 of Italy’s top 20 soccer teams. Though YPulse data shows that most young consumers (in the U.S.) don’t fully understand NFTs, that’s not putting a stop to the hype. Sotheby’s sold an NFT collection by digital artist Pak for $17 million, for instance, and the famed Nyan Cat GIF sold for nearly $600K. Celebrities, influencers, and creators have also been jumping on the NFT movement to sell digital art, images, and their own social media posts. Now, the sports world is getting in on the action, too: professional athletes are launching their own NFT companies, and the NFT digital collectibles market has erupted, with NBA Top Shot generating over $50 million in transactions. Sorare features more than 140 clubs from Europe, the U.S., and Asia and raised $50 million in funding. (CoindeskEsports Observer)