LONDON : The Premier League is partnering with French fantasy sports platform Sorare to sell non-fungible tokens (NFTs), a sign that the sporting world is continuing to embrace digital assets despite the rout in markets. The deal gives Sorare a four-year license to sell digital sports cards of players fr
LONDON : The Premier League is partnering with French fantasy sports platform Sorare to sell non-fungible tokens , a sign that the sporting world is continuing to embrace digital assets despite the rout in markets.
The cards in Sorare's game are bought and traded in the form of NFTs, a kind of blockchain-based asset, using either cryptocurrency or traditional currency. "The way that supporters follow their favourite teams and players is evolving and the Premier League is always looking for ways to engage with fans," said Richard Masters, chief executive of the Premier League.NFTs surged in 2021, but prices and sales volumes plunged last year as investors turned cautious and the crypto industry was rocked by a series of high-profile collapses.
"The lack of regulatory oversight for crypto and NFTs is obviously something which supporters should be aware of," the FSA added.
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