FFF partners with Sorare to release NFT ahead of their first match of Euro 2020

With the Euro 2020 championship in progress, NFT Fantasy Football Platform Sorare announced that it has reached a licensing agreement with the France Football Federation, and launched The French National Team NFT before the match against Germany tonight. According to CryptoSlam, the 24 hours trading volume of Sorare has increased 63%, and ranks sixth.

NBA Top Shot, launched by the NBA and Dapper Labs has led to the entire NFT boom. Since its launch in October 2020, NBA Top Shot has generated $6.3 billion in revenue. Besides NBA Top Shot, There is also the NFT issued by Major League Baseball (MLB) and the digital collection company Candy Digital, the French football team NFT issued by Sorrare, etc. The reasons that make NFT to become popular in the sports industry are that NFT provides a standardised way of verifying who creates an NFT , and once the artwork is uploaded on the blockchain, nobody can retrieve it or delete it, also the characteristic of blockchain allows users to check every NFT trading record.

According to DappRadar’s May report, overall NFT sales fell by 5%.Although the 30 days volume of NBA Top Shot and CryptoPunks fell by 41% and 77% respectively, the volume of the blockchain game Axie Infinity has increased by 581%, according to CryptoSlam data. Therefore, despite the NFT transaction volume declined slightly in May, the market is still emerging with new projects. The International Olympic Committee (IOC) announced a partnership with the American game company nWay to launch an official NFT badge. These NFT will be released on the nWayPlay platform two days later, i.e 17 June. In addition, the LEXIT platform based on Binance Chain (BSC) has launched a new project, a launchpad that combines NFT and Defi, with the goal of helping creators to raise the funds needed for creation.

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