The National Basketball Association (NBA), National Basketball Player’s Association (NBPA), and Sorare are launching the Beta version of its NFT-based NBA fantasy basketball game. The companies are coming together to create the first officially licensed, free-to-play NBA Fantasy game.
The Sorare: NBA Beta game is just one addition to Sorare’s suite of upcoming web3 games. So far these include a Sorare: Major League Baseball game and a soccer game, Sorare: Football, as well. Players can collect free cards or buy NFTs, or non-fungible tokens.
In the new Beta version, fans will create and manage teams with NFTs representing NBA players. Then users can enter tournaments and see the results based on how players do in the real world. Players can start with a free card, but they have the option to pay for NFT (non-fungible token) cards. Users can keep playing with these cards and earn rewards or resell them on the marketplace for real money.
The game uses blockchain technology based on Ethereum and was first developed in 2018 by Nicolas Julia and Adrien Montfort in Paris. The partnerships with the NBA, MLB, and multiple soccer leagues is why Sorare was able to raise $680 million on a $4.3 billion valuation in a deal with SoftBank last year.
