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FILE PICTURE: Soccer Football – Premier League – Liverpool v Newcastle United – Anfield, Liverpool, Britain – August 31, 2022 Image of Liverpool’s flag before the match REUTERS/Phil Noble

LONDON, Sept 22 (Reuters) – Liverpool football club is deepening its ties to the crypto world by expanding its partnership with French blockchain-based sports startup Sorare, the company said in a statement on Thursday.

Sorare, whose online fantasy sports game involves selling licensed digital sports cards that players can use to build teams to compete against each other, said it has an exclusive multi-year partnership with Liverpool to create content and experiences for fans.

Game cards are bought and traded in the form of non-fungible tokens (NFTs), a type of crypto asset that records the ownership status of digital goods on the blockchain. Read more

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The 2021 deal introduced Liverpool cards to the platform, and the new deal will see perks such as Liverpool Stadium visits, matchday experiences, merchandise and video content offered as prizes for online game winners, Sorare said.

Sports-related collectibles have proven a popular type of NFT as the digital asset market exploded into a multibillion-dollar industry last year, though the frenzy has subsided in recent months. To see also : Breaking Bad’s Creator Reveals How Video Games Fail. Read more

The average selling price of Sorare NFTs in August was $86.14, down from a peak of around $280 in March last year, according to market tracker CryptoSlam.

Britain’s gambling watchdog is investigating Sorare to assess whether his game amounts to gambling. A spokesman for Sorara said it was “not relevant” to the partnership with Liverpool. Read more

“Sorare remains very confident that it does not offer any forms of gambling, and this has been confirmed by expert legal opinions at every stage since the company was founded, including the signing of new partnerships,” the spokesperson said.

Sorare says it has over 2 million users worldwide and partnerships with more than 280 million sports organizations, including Major League Baseball in the United States and soccer clubs from the United Kingdom. Read more

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Report by Elizabeth Howcroft; Editing: Emelia Sithole-Matarise Read also : Roundhouse, a new sports bar, replaces Rocking Horse in Logan Square.

Our Standards: The Thomson Reuters Trust Principles.

Reports on the intersection of finance and technology, including cryptocurrencies, NFTs, virtual worlds and the “Web3” that powers money.

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