NFTs are unique digital assets that are secured using blockchain technology, and they have become increasingly popular in the world of sports. This new alliance allows the Premier League to provide its fans with non-fungible tokens (NFTs), which can be used to create virtual teams and compete in a digital version of the league. It does not store any personal data.The Premier League has teamed up with Sorare, a digital trading card company backed by SoftBank, to launch an NFT deal. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. In June, French football star Kylian Mbappé became an investor, social impact partner, and ambassador in Sorare. If successful, the agreement with the Premier League would be the latest in a series of major partnerships for Sorare, which now has more than 280 partnering sports organisations including La Liga, the Bundesliga, AC Milan, Liverpool FC, Argentinian Football Association and Major League Baseball. However, a Premier League insider said that the trademark filings were made to protect the League’s intellectual property rights instead of an indication of future plans. In preparation, Premier League filed new Web3 applications with the United States Patent and Trademark Office in June, covering digital asset trading services, financial and crypto services, virtual clothing, footwear and sports gear. In July, the Premier League said it would be sticking to its plans of launching an NFT collection. A separate agreement with Dapper Labs is also under discussion. A Premier League executive was informed that the deal with Sorare was more lucrative. While ConsenSys had the NFT deal, which was almost signed, in the bag, the firm tried to renegotiate the agreement at a lower price following the market slump. ConsenSys reportedly won the NFT deal in March while Dapper Labs was said to have landed the rights to create video NFTs, according to British media outlet, iNews. In February, the Premier League shortlisted four blockchains (Sorare, Candy Digital, Dapper Labs and ConsenSys) for an NFT licensing deal worth up to $589 million. Industry sources said that Sorare’s deal, if signed, would replace a previous agreement with ConsenSys, which fell through. The English Premier League is reportedly discussing with its 20 football clubs a £30m-a-year digital tokens contract with Paris-based sports fantasy game platform, Sorare.Īccording to Sky News, the deal focusing on static image NFTs of Premier League’s footballers could be signed within weeks.
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