Kylian Mbappé has entered the world of non-fungible tokens (NFT) by investing in a SoftBank-backed fantasy football platform, Sorare. Mbappé will also serve as a brand ambassador for the firm.
Sorare is a fantasy football game that allows players to form football teams based on the digital trade cards they own. The firm believes that signing a player often regarded as the best in the world will help raise the entity’s profile. Mbappé has over 80 million followers on Twitter and Instagram, compared to Sorare’s 155,000.
Football players, clubs, and leagues have sought to capitalise on the emergence of digital assets, such as tradable NFTs and fan tokens, to utilise their global fan base and generate income in addition to broadcast and sponsorship deals.
Crypto firms have also courted sports teams, stadiums, and shirt sponsorship deals to reach the massive worldwide audience that watches sports. That trend has continued to persist, despite the current instability in the cryptocurrency market and the increased scrutiny on digital fan tokens.
Although, big-name players have not been prevented from entering the new sector despite such uncertainties. Cristiano Ronaldo signed an agreement with Binance last week to promote NFTs, while Lionel Messi signed a deal with Socios, the fan token firm, earlier this year.
Nicolas Julia, Sorare’s Chief Executive said, “What sets us apart is we have a utility for the NFTs, which is a game. We are building a gaming company. I see the technology as an enabler to provide what we want to provide. But it’s not an end — so you don’t see the word NFT in our product.”
Kylian Mbappé said, “Off the pitch, the most important thing for me is helping empower young people – who might not have access to the type of opportunities others have – to realise and fulfill their dreams and potential. And with new technologies presenting such profound opportunities, I wanted to partner with an ambitious, global tech brand that would resonate with the young people whose dreams we’re supporting. Sorare was the perfect fit, and I was beyond inspired by Nicolas and the team’s enthusiasm for football, fans, and building a better, more inclusive world. I can’t wait to get started and make a global impact with them as their first-ever player ambassador.”