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SoftBank leads investment into $4bn French football startup

SoftBank leads investment into $4bn French football startup

Mubasher: SoftBank Group Corp. is leading an investment worth $680 million into French football startup Sorare, which is valued at $4.3 billion, the Financial Times reported.

The Paris-based startup runs a popular online game, where the players can earn or purchase digital football cards, known as non-fungible tokens (NFTs), that are secured on the blockchain, which can also be traded as unique items.

SoftBank is leading the investment through its Vision Fund 2 and its Latin America Fund, in addition to other venture capitalist groups like Atomico and Bessemer.

Other investors include football stars of FC Barcelona’s Gerard Piqué and former Manchester United defender Rio Ferdinand. Previous investors included Accel and Benchmark.