LONDON (Reuters) – Major League Baseball will launch a web-based game in partnership with SoftBank-backed NFT firm Sorare this summer time, Sorare stated in an announcement on Thursday.
The game will enable baseball followers to purchase and promote NFTs representing baseball gamers utilizing the cryptoccurency ether, constructing fantasy groups which they’ll compete with to win prizes.
A non-fungible token (NFT) is a type of crypto asset which represents a digital file corresponding to a picture, video or piece of textual content.
Sports-related collectibles are proving to be a preferred kind of NFT because the digital belongings market exploded right into a multibillion-dollar trade final yr.
Top sports activities leagues, together with the U.S. National Basketball Association, have licensed NFT-based merchandise for followers.
Sorare, which raised $680 million final yr in a funding spherical led by SoftBank, additionally has a partnership with Major League Soccer within the United States.
The firm is at present being investigated by the UK’s playing watchdog.
(Reporting by Elizabeth Howcroft; Editing by Kim Coghill)
