MLB-Sorare Deal Suggests Bright Future for NFT-based Fantasy Sports Games
May 13, 2022
Major League Baseball recently announced a partnership with Sorare, the operator of a fantasy soccer game featuring NFTs, to launch a similar NFT-based baseball game in which fans create a fantasy team of NFTs that represent Major League Players. This venture signals an increased public interest in NFT-based fantasy sports teams, which will likely grow in popularity over the next few years.
- Although details of the game have yet to be released, Sorare is expected to issue a set number of MLB NFT cards for each player that displays an image of the player in question, with their team and number, much like a physical baseball card. Participants can purchase the cards and then use them to build a team and compete against others.
- There is some concern among consumers that purchasing digital collectibles, such as NFTs, poses a higher risk than purchasing physical collectibles. If the game collapses, for instance, there is a possibility that purchased NFTs could lose their value.
- It remains to be seen how this partnership will play out, but given the previous success of Sorare’s fantasy soccer league and the continued public interest in cryptocurrency, it is likely that the MLB game will be a success.