Reports have surfaced that French NFT-based soccer trading card game developer Sorare is closing in on a $532 million funding round with a valuation of at least $3.8 billion.
According to unnamed sources in Business Insider, the latest funding round is expected to be led by Japanese telecommunications giant SoftBank, along with participation from European venture capital firm Atomico.
Other backers thought to be in the mix include European investment firm Eurazeo, and Blisce, a fund founded by French entrepreneur Alexandre Mars.
Sorare was founded in 2018 and the firm’s NFT-based soccer collectible card game now has 142 licensed teams from top leagues across the world, such as Liverpool from the English Premier League, Real Madrid of the La Liga in Spain, Paris Saint-German from Ligue 1 in France and Bayern Munich of the German Bundesliga.
Sorare CEO Nicolas Julia has reportedly denied that a funding round was being conducted, in contrast to Insider’s unnamed insiders which claim the