#Spain la sorare nfts series

“I really consider this not a space or a market, but a technology,” says Julia. The words non-fungible token appeared nowhere in Sorare’s promotional material. It’s a digital fantasy football game: You can buy cards representing real-world players, and pit them against one another in a variety of ways to win real-world cash-part fantasy sports, part Magic the Gathering, part FIFA Ultimate Team on the blockchain. In 2018, before Beeple and the Bored Ape Yacht Club, back when the term NFT meant nothing to most people, French entrepreneur Nicolas Julia founded a company called Sorare. It all began with honest enough intentions.

Players who had hyped up the NFTs quietly deleted their social media posts. After launch, the price collapsed from an average of $656 to just $65.

#Spain la sorare nfts series

It launched with a flimsy backstory (“In a magical world where apes ruled the metaverse …”) and a series of 6,000 cartoon monkeys in soccer kits, which had to be quickly rolled back when it transpired that the project didn’t have the rights to use any of the club trademarks. The “ Ape Kids Football Club”-endorsed by England footballer John Terry-was a particularly egregious example. The Athletic’s Joey D’Urso has detailed numerous examples of player and club-endorsed crypto projects tanking in value as the cryptocurrency market has collapsed. The implication is clear: Buy in, hold on, and you could be as rich as your heroes. This season, superstars Lionel Messi and Neymar will walk out for Paris Saint-Germain with “” emblazoned on their shirts. At the same time, in an advertising market flattened by Covid-19, blockchain companies swooped in to sponsor big teams and events. Soccer fell particularly hard for non-fungible tokens and, as they boomed and busted over the past 18 months, thousands of fans were sucked into dubious projects endorsed by footballers.