La Liga’s partnership is with Sorare, a fantasy football platform.
Spain’s top-flight football league has signed a new deal to create non-fungible tokens for all of its players.
La Liga’s partnership is with Sorare, a fantasy football platform that has managed to capitalize on the appetite for digital collectibles during the coronavirus pandemic — as well as the market mania surrounding NFTs.
Sorare says its goal is to allow fans, collectors and fantasy football players to freely trade and play digitized cards of La Liga’s best-known stars — building “the game within the game” as a result.
Given how La Liga is home to top teams such as Real Madrid, FC Barcelona and Atlético de Madrid, the collaboration is going to bring crypto collectibles to a new audience.
Sorare has said that it is planning to enter into partnerships with all 20 of the world’s top football leagues by the end of this year.
The company’s CEO and co-founder, Nicolas Julia, said:
"NFTs are the future of global sports fandom because they allow fans to come together and to feel ownership of the sports they love … La Liga is one of the best leagues in the world, home to some of the most exciting clubs and footballers on Earth.”
This isn’t the only way that cryptocurrencies are making their presence felt in the world of sport.
A number of football teams have launched fan engagement tokens — giving supporters the chance to vote on content related to the clubs they support.
It appears these tokens are also being used to compensate players, with Lionel Messi receiving crypto as part of his pay package when he joined Paris Saint-Germain.
However, there have been allegations that these tokens can be subject to pump and dumps — something that could potentially put everyday investors at risk.