Sorare will produce a one-time-only non-fungible token (NFT) trading card including the legendary footballer Cristiano Ronaldo that will be sold at auction house Bonhams. It is estimated that the final price will be between $800,000 and $1.2 million.
The blockchain-based fantasy football project developed by Sorare has made the company famous. Fans collect players similar to traditional fantasy games. With Sorare, players are represented by NFT cards, which are used to create a weekly lineup based on their performance on the field. Sorare rewards top performances with ETH cryptocurrency and fans can also trade the cards at a profit on the app's marketplace.
Sorare has never participated in an auction of this size before. The cards in the line-up have until now been sold directly on Sorare's marketplace at a predetermined starting price.
With Bonhams, Sorare hopes to reach an entirely new audience.
Even after winning the auction, the winner will still have the ability to use it for Sorare's fantasy game. However, that is unlikely to be the main selling point. The card is officially licensed by Ronaldo and his 2020/2021 season team, Juventus.
Sorare raised $680 million at a $4.3 billion valuation and recently signed a partnership with the whole LaLiga series. In partnership with Bundesliga, Sorare will launch highlight video moments as NFTs, similar to Dapper Labs’ product with the NBA. It is also looking to enter the NFT market for traditional card collections with legendary football player cards.
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Resources: https://www.ledgerinsights.com/sorare-ronaldo-nft-bonhams-for-expected-1-million/