German national team becomes the latest to join the NFT craze
- German Football Associated has become the latest team to launch players’ NFT card.
- The partnership comes barely a week after Sorare signed a similar deal with the French Football association.
- The license agreement will setup digital collectible cards on the Ethereum blockchain for 18 German players.
German Football Association has created non-fungible token (NFT) cards for players in the current squad at Euro 2021.
The deal is coming in collaboration with football blockchain collectibles platform Sorare. This is coming following Sorare’s launch of the NFT cards for the French national team last week
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Sorare will also be promoting a weekly football fantasy ecosystem where fans can compete and measure their performance with other fans, based on the actual performance of the selected footballer for the week.
Sorare has grown in the NFT space
Those who emerge as winners of the football game can redeem it for cryptocurrency or other cards, which can be exchanged for fiat currency. Since the cards are created as NFTs, it ensures their authenticity and scarcity.
The COVID-19 pandemic has increased Sorare’s popularity as football fans were not allowed to support their favorite players and teams physically. As a result, they looked for new ways they can get involved in the game.
Sorare has also made good use of the opportunity, as it tried to partner with several top football teams to expand the platform’s popularity all over the world. Presently, the network has about 140 teams.
NFT card will encourage more fan engagement
With the fantasy football game, fans can engage in the game and follow their favorite football stars closely. This is in line with the goals of both French and German football associations when they were signing the deal.
The license agreement enables the DBF to set up digital collectible cards on the Ethereum (ETH/USD) blockchain for 18 players on Sorare’s network.
The DBF aims to generate new revenue streams and offer fans the opportunity to engage more with their favorite football stars.
Even if the pandemic is getting towards its end, the German football association says it wants to explore digitalization to offer fans new interactive opportunities.