A non-fungible token (NFT) card featuring NBA player Victor Wembanyama fetched a staggering $110,120 on Sorare, marking a significant milestone in the digital card market.
The NFT card was released on Sorare, a cryptocurrency-based fantasy sports game that allows sports fans to build virtual teams of athletes from their respective leagues and earn points based on real-world performance.
The card was offered as a unique edition in a recent auction that concluded with a final bid of 61.182 ETH, equivalent to over $110,190 at the time of sale.
Notably, the sale price of this digital card far exceeded the value of Victor Wembanyama’s latest physical trading card, which sold for $67,333 in an auction hosted by Goldin last August.
This transaction underscores the growing significance of NFTs in the sports industry and the broader shift toward digital assets.
Sorare, established in 2019, has rapidly become a prominent platform for Web3-enabled sports experiences. Originally focused on soccer, Sorare expanded its offerings to include basketball and baseball following partnerships with the NBA and MLB.
Since its inception, Sorare has generated an impressive $710 million in NFT sales, according to data from CryptoSlam.
Despite its remarkable success, concerns have emerged in certain regions regarding potential gambling implications associated with such games.
In France, for instance, the French National Assembly addressed these concerns by passing the Sorare law. This law introduces a regulatory framework for NFT and crypto-based video games, potentially exempting them from gambling categorization. It now awaits review by the Constitutional Council.