NBA announces Sorare "official NFT fantasy partner"

Sorare, a Paris-based company, will launch the NBA's first officially licensed NFT fantasy basketball game this fall – just in time for the 2022-2023 season.

The agreement comes as part of a "multilayer partnership" between the National Basketball Association (NBA), the National Basketball Players Association (NBPA), and Sorare, a European NFT platform.

"Our partnership with Sorare will give NBA fans an entirely new way to engage with our teams and players," NBA Commissioner Adam Silver said in a statement. "With Sorare's emerging NFT fantasy platform, we see significant opportunities to broaden our community of fans and grow NBA basketball around the world."

NBA announced Sorare as its "official NFT fantasy partner" and will authorize the company to use the league and team logos on all of its products as part of a new relationship.

In return, Sorare will create a "unique fantasy gaming experience" for the fans in the form of an NFT-based game. Users will compete by collecting digital impressions of their favorite players and teams to earn points based on the real-life performance of the athletes.

"Basketball is one of the most popular sports in the world, and we are excited to bring fans even closer to their favorite teams and players through Sorare: NBA," Sorare CEO Nicholas Julia said.

He added: "The NBA has been at the forefront of digital experiences and collectibles, and our game gives basketball fans the ultimate sports entertainment experience, where they can play like a general manager, own their game, and foster real-world connections."

Sorare has recalibrated traditional sports card collecting and monetized it as a digital experience in which users collect and trade officially licensed cards, form teams, and compete with each other.

Sorare has two million registered users worldwide and already works with the Major Baseball League (MLB) and several top-tier European soccer leagues, including Germany's Bundesliga and English Premier League.