Lionel Messi Joins Sorare as an Investor and Newest Brand Ambassador

Lionel Messi is one of the biggest names in the sports industry. As per the latest news, Messi has joined Sorare as an investor. He also joined the platform as a brand ambassador. Sorare is a France-based NFT card trading game.

Nov 9, 2022
by Anvi Saini
Lionel Messi Joins Sorare as an Investor and Newest Brand Ambassador
News

Sorare stated in a statement that Messi will help ramp up the platform and establish a connection with clubs and players. Messi will also assist Sorare in raising fan expectations and creating new fan experiences and content.

Messi buys a stake in Sorare

Argentinian football star Lionel Messi has also acquired a stake in the platform.  According to the agreement, this is without any expansion of his holdings or other terms. This is also regarded as a "huge milestone" in the trading game.

Nicolas Julia, Sorare’s CEO, stated to CNBC;

“We believe Messi will help us set new standards in how we do this, and we look forward to sharing what new content and fan experiences we’ve been collaborating on soon,” 

Sorare lets users trade digital player cards and manage teams of five in fantasy soccer tournaments. The cards are themselves nonfungible tokens, or NFTs, virtual collectible items that keep a record of ownership that is tracked on the blockchain. Sorare says this creates "digital scarcity" for each card.

The Paris-based startup has more than 2 million users in 185 countries and is affiliated with over 300 sports teams and leagues, including Spain's La Liga and Germany's Bundesliga. It has recently expanded beyond its core focus on soccer into other sports such as basketball and baseball.

Messi in a statement Wednesday:

“Fans have always looked for ways to express their passion and get closer to the players and teams that they love and Sorare’s combination of a fantasy game with digital collectibles gives fans new ways to do that, wherever they are in the world,” 

Sports X Crypto

The collaboration with Sorare is the latest in a string of notable agreements between sports stars and cryptocurrency platforms. Sorare has previously announced partnerships with French soccer player Kylian Mbappe and American tennis legend Serena Williams. Tom Brady, the quarterback of the New England Patriots, invested in the cryptocurrency exchange FTX, which agreed to sell to rival firm Binance on Tuesday after experiencing a liquidity crisis.

As part of his two-year contract with the club, Messi agreed to take a portion of his salary in $PSG fan tokens, a cryptocurrency developed by blockchain sports platform Socios for Paris Saint-Germain. The tokens' value has since plummeted, falling 86% since their peak in August 2021, when Messi announced the Socios partnership, raising concerns among average sports fans who could face massive losses.

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