Major League Baseball will launch an online game in partnership with SoftBank-backed NFT company Sorare this summer, Sorare said in a statement on Thursday.
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The game will allow baseball fans to buy and sell NFTs representing baseball players using the cryptocurrency ether, building fantasy teams which they can compete with to win prizes.
A non-fungible token (NFT) is a form of crypto-asset which represents a digital file such as an image, video or piece of text.
Sports-related collectables are proving to be a popular type of NFT as the digital assets market exploded into a multibillion-dollar industry last year.
Top sports leagues, including the U.S. National Basketball Association, have licensed NFT-based products for fans.
Sorare, which raised $680 million last year in a funding round led by SoftBank, also has a partnership with Major League Soccer in the United States.
The company is currently being investigated by the UK's gambling watchdog.
Published - May 13, 2022 11:51 am IST
