AC Milan is partnering with Sorare, a blockchain-based fantasy sports platform, for a multi-year partnership that will leverage non-fungible tokens (NFTs) and Web3 games for the popular Italian soccer club.
The deal will provide AC Milan with a new game licensing category revenue stream — NFT licensing — as well as new ways to digitally engage the club’s fans. It will also allow fans to have immersive virtual experiences, increased ownership over their digital collectibles, and the chance to win crypto and other rewards in its immersive fantasy sports world.
Sorare is a player-owned fantasy sports game that lets users scout, collect, and trade licensed digital player cards in the form of non-fungible tokens with other fans on its open marketplace. Users can earn points based on players’ real-life performances and compete in competitions each week. The platform has over two million registered users and over 260 partnering sports organizations.
Chief Revenue Officer of AC Milan, Casper Stylsvig, said that the club was happy to partner with Sorare to offer digital collectibles to its over 500 million fans worldwide as it continues to evolve its Web3 plans.
Sports Teams Are Taking Advantage of Web
AC Milan isn’t the first major sports team to dip its toes in Web3 waters. Non-fungible tokens, the metaverse, and blockchain technology are revolutionizing the way organizations can connect with fans, sell digital collectibles, and broadcast live events — and sports teams and leagues have been taking full advantage this year.
Over the past six months, we’ve reported on several sports teams and leagues partnering with Web3 companies or releasing their own non-fungible token projects. Here are some of our most recent headlines:
- PGA Tour Inks NFT Deal with Sorare & Autograph
- Major League Soccer Will Mint NFTs on Sorare
- Manchester City Partners with Crypto Exchange OKX
- Paris Saint-Germain Sells NFTs for Matches in Japan
- Seattle Mariners Give Away Seattle Steelheads NFTs
- The Chicago Cubs Announce a Web3 Partnership
- The MLB is Creating an NFT Fantasy Game on Sorare
Even as the crypto market remains bearish, sports leagues are investing heavily in Web3 technologies. Time will tell if AC Milan’s partnership with Sorare will yield the results the team is looking for. But considering the global popularity of the football club and the track record of Sorare, we think there’s a good shot the new partnership will be successful.