July 25, 2021


Bitcoin & Ethereum Blockchain News

FC Bayern Munich Gets Tokenized on Ethereum Blockchain

Germany’s Bundesliga and 2020 Champion League winners, Bayern Munich Football Club, have signed a partnership allowing Sorare to mint players from the club in-game.

Source: cryptobriefing.com

FC Bayern Munich is the third Bundesliga club to partner with Sorare, with 100 clubs now in partnership.

Sorare is a fantasy football video game based on the Ethereum blockchain. Users can trade limited edition football player cards and build teams with players like Cristiano Reynaldo and Neymar, earning in-game prizes based on the athletes’ performance in real life.

Football fans often collect and trade physical cards, and fantasy football based on blockchain technology allows instant transfer of cards as unique digital assets. Sorare CEO Nicolas Julia celebrated the FC Bayern Munich deal as a “major milestone,” adding that three out of the top 5 European Champions are now signed with Sorare, including Juventus and Paris Saint-Germain.

Sorare May Help Drive Blockchain Adoption

Creating unique digital collectibles is arguably one of the most universally accessible use cases for blockchain technology.

By signing high-profile football clubs to its fantasy football platform, Sorare is encouraging blockchain and digital assets in daily life. Because the assets are minted using blockchain technology, they have built-in scarcity and clearly identifiable owners.

Sorare recently raised $4 million in seed funding to help further the development of the platform. Blockchain gaming is growing in popularity, and last year accounted for the majority of dApp use in the decentralized ecosystem.

Other blockchain platforms like Crypto Kitties and Open Sea have grown major user bases trading blockchain collectible assets and trading cards.

Crypto Kitties grew so popular in 2017 that it congested the Ethereum network as players bred and traded digital cats on the network. Moreover, Open Sea users have bought and sold trading cards for tens of thousands of dollars.