With Sorare’s emerging NFT fantasy platform, we see significant opportunities to broaden our community of fans and grow NBA basketball around the world.” Julia told CNBC that the deal with Sorare was an “exclusive agreement.” However, a Socios spokesperson said that Messi’s deal with their firm “still stands” and that they don’t consider Sorare to be a direct competitor.NBA Commissioner Adam Silver, stated “Our partnership with Sorare will give NBA fans an entirely new way to engage with our teams and players. In March, Messi also partnered with Socios for a three-year deal to become a global brand ambassador for the company. "But the ones that stick around will be those that offer real underlying utility and see non-fungible technology as the means to achieving their goals, not the ends." "There has been a lot of hype around different football projects using non-fungible technology up to now," Julia told CNBC. This has raised fears among average sports fans who are vulnerable to huge losses. However, the value of the tokens has since plummeted, dropping 86% since their August 2021 peak when Messi announced the Socios partnership. Messi himself previously agreed to take part of his salary in $PSG fan tokens, a cryptocurrency developed by blockchain sports platform Socios for Paris Saint-Germain, as part of his two-year contract with the club. American football quarterback Tom Brady took a stake in the crypto exchange FTX, which on Tuesday agreed to be sold to rival firm Binance after experiencing a liquidity crunch. French soccer player Kylian Mbappe and American tennis legend Serena Williams have both previously announced tie-ups with Sorare. The partnership with Sorare is just the latest in a series of notable deals between sports stars and crypto platforms. "Sorare's combination of a fantasy game with digital collectibles gives fans new ways to express their passion and get closer to the players and teams they love, wherever they are in the world," said Messi in a statement Wednesday. The company has expanded beyond its core focus on soccer and now offers coverage of other sports, including basketball and baseball. It has partnered with over 300 sports teams and leagues, including Spain’s La Liga and Germany’s Bundesliga. The Paris-based startup, which was last valued at $4.3 billion, has more than 2 million users in over 185 countries. Sorare says this creates “digital scarcity” for each card. The cards are nonfungible tokens (NFTs), virtual collectible items that keep a record of ownership that is tracked on the blockchain. Sorare allows users to trade digital player cards and manage teams of five in fantasy soccer tournaments. "We'll be sharing more details on what we've been working on soon." "We're excited to have Messi on board as we continue to push the envelope in terms of fan engagement and content," he told CNBC via email. Sorare CEO and co-founder Nicolas Julia said the partnership with Messi is a "huge milestone" for the company. Sorare announced that Messi has taken an equity stake in the company as part of a new partnership. They’ll also work together to create new content and fan experiences, Sorare added. Icardi, who plays as a forward for French club Paris Saint-Germain, will help Sorare set new standards in how fans connect with clubs and players, the company said in a statement Wednesday. Sorare has announced that it has partnered with Argentinian footballer Mauro Icardi. With Messi on board, Sorare is poised to become the leading NFT trading game in the world. Soccer superstar Lionel Messi is joining Sorare, the French nonfungible token trading game, as an investor and brand ambassador.
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