As per a Dec. 17 announcement, Spanish professional football club Real Madrid Club de Fútbo (colloquially known as just Real Madrid) has become the latest team to join Sorare - a blockchain-based fantasy football platform.
"It's official: Real Madrid C.F. joins Sorare! First Edition card sales are on auction now," Sorare tweeted.
Sorare enables football fans to collect and trade digital cards in the form of Ethereum non-fungible tokens (NFTs) for composing a "dream team" and pitting it against other players.
Users can currently add NFT cards representing players like Thibaut Courtois, Federico Valverde, Raphael Varane, and others to their collections following the participation of Real Madrid.
It should be noted that prices of some of the rarest cards can reach thousands of dollars as a result of their scarcity as well as uniqueness provided by NFT technology. According to previous report, a trading card representing Paris Saint-Germain's forward Kylian Mbappé was sold for €55,105 ($64,744) on Sorare last week, which is the most expensive one up till now.
Nicolas Julia - the CEO of Sorare - stated "The €55.000 Mbappé sale was indeed our record. Our previous record on the auction was the Neymar sale or in the peer-to-peer secondary market, it was Carlos Vela unique. Cards are valued based on two criteria by buyers: collectability (scarcity plays a huge role there) and utility in-game (scarcity also plays a role)."
But it does not mean that only the wealthiest football fans boast the opportunity at winning.
"This card [Mbappé] is not considered as cheating or pay to win as you can only play it in certain division (DIV2 or DIV1) where people have a similar scarcity of cards (unique or super-rares). The game is balanced so that people of similar budgets play against each other in the different leagues!" Julia said.
In addition, players can sell their card through an auction, possibly even gaining some profit in the process. For instance, pseudonymous user Maxmersch, the new owner of Mbappé's card, had set the minimum bid at €122,682 ($148,553) right after they bought it. It is obvious for the owner to expect to earn an additional $83,800 for the NFT.
Recently, the NFT market keeps breaking new records. Dec. 2 saw an Ethereum token for a virtual race track was sold for $223,000. Meanwhile, the crypto art space has gotten its first millionaire artist. In the near future, it will gain more popularity than this summer's craze.