Following a $680-million funding round, nonfungible token (NFT) market place Sorare is looking to be an active player in bridging the gap between sports and digital entertainment.

At present valued at $four.three billion, Sorare told Cointelegraph that the company plans to use the fresh capital to expand its business concern with new hires and partnerships, too as support community-led programs.

Besides working with community-led football programs aimed at helping young people from disadvantaged backgrounds and backing underprivileged entrepreneurs in sports and gaming, Sorare CEO Nicolas Julia explained via email that the NFT unicorn would also support female person representation in sports. He said:

"We believe that NFTs can significantly advance the evolution of women'southward sports. Nosotros will actively invest in this by offset with women's football."

Sorare, a Paris-based NFT marketplace focused on sports, made headlines in September following a SoftBank-led $680-million Serial B funding.

Julia further detailed how Sorare was going to employ the raised uppercase for business purposes, starting with the new hires to expand the team. "We're looking to fill many new roles," he said, both in Europe and the Usa.

He added that new partnerships would innovate new football leagues and national teams to the NFT marketplace. Such partnerships crave an upfront payment, and Sorare is loaded plenty to sign the deal with the top 20 leagues and acme 50 national teams, thanks to the hefty funding.

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Sorare also plans to reserve some role of the funds for mobile and marketing efforts. "Our fantasy game will be a mobile-offset experience," Julia explained, calculation that the company's growth was organic until at present.

The last topic on Sorare's agenda is to bring new sports to the platform. "We've received interest from leagues and fans across the earth to replicate our model in other sports," Julia said.