Major League Baseball has delved deep into the NFTs.
The league this morning said it had signed with Sorare, a start-up in Paris that ran a beautiful sport that had NFTs, or worthless markers. Users can pay to collect tokens that represent players, and tokens collect similar content with players performing well in real games.
Ms. Sorare said the company offered MLB prepaid money which was guaranteed for future expenses by selling the tokens, but refused to give a dollar amount for the deal. The league and Sorare will share the proceeds from the sale of tokens, which are also exchanged between players of fantasy games.
The tokens will vary in price depending on their rarity: Sorare tokens for other sports such as soccer are hands-free and sold for as much as $ 600,000.
Sorare is one of the growing sectors of the business-start-up business that uses NFT, a type of digital marketing that recognizes members of different products or specialized services. Last year, Sorare raised $ 680 million worth of $ 4.3 billion from investors, including Benchmark, a wholly-owned subsidiary that has placed first-time bets on Uber, eBay and WeWork. .
In an interview, Nicholas Julia, Sorare’s chief executive, said the company was profitable and last year generated about $ 100 million in revenue, which he joined the league.
The deal with MLB is part of a broader strategy for Sorare to expand into the United States by taking care of fans of other popular sports, Mr. Julia said. The company has opened offices in Manhattan’s SoHo community and has begun hiring American executives, including Ryan Spoon, a former ESPN executive who recently became the chief operating officer of BetMGM.
This is not the first NFT contract for MLB In April, the league announced that it had extended its contract with Candy Digital, the company that makes NFT baseball cards. Major players in sports media and technology have conquered NFTs as a lucrative business venture, with the likes of the NBA and NFL Players Association exploring new ways.
Sorare can face big competition from design companies that specialize in racing fantasy games. DraftKings, the company that specializes in modern dream and professional soccer, last year contracted to develop Reignmakers Football, an NFT fantasy game.
In the interview, Mr. Spoon said Sorare had an impact on participants because it was not affected by setting up other businesses or managing quarterly phone calls.
“Our partners and our players hope we can focus on this in particular,” he said. Spoon said.