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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Valued at $4.3B, NFT platform Sorare to invest in women’s sports

“We believe that NFTs can significantly accelerate the development of women’s sports,” Sorare CEO Nicolas Julia told Cointelegraph.

Following a $680 million funding round, nonfungible token (NFT) marketplace Sorare is looking to be an active player in bridging the gap between sports and digital entertainment.

Now valued at $4.3 billion, Sorare told Cointelegraph that the company plans to use the fresh capital to expand its business with new hires and partnerships, as well as support community-led programs.

Besides working with community-led football programs aimed at helping young people from disadvantaged backgrounds and backing underprivileged entrepreneurs in sports and gaming, Sorare CEO Nicolas Julia explained via email that the NFT unicorn would also support female representation in sports. He said:

“We believe that NFTs can significantly accelerate the development of women’s sports. We will actively invest in this by beginning with women’s football.”

Sorare, a Paris-based NFT marketplace focused on sports, made headlines in September following a SoftBank-led $680 million Series B funding.

Julia further detailed how Sorare would use the raised capital for business purposes, starting with the new hires to expand the team. “We’re looking to fill many new roles,” he said, both in Europe and the United States.

He added that new partnerships would introduce new football leagues and national teams to the NFT marketplace. Such partnerships require an upfront payment, and Sorare is loaded enough to sign the deal with the top 20 leagues and top 50 national teams, thanks to the hefty funding.

Related: Sports-themed NFTs spark gold rush as projects raise $930M in a week

Sorare also plans to reserve some part of the funds for mobile and marketing efforts. “Our fantasy game will be a mobile-first experience,” Julia explained, adding that the company’s growth was organic till now.

The last topic on Sorare’s agenda is to bring new sports to the platform. “We’ve received interest from leagues and fans across the globe to replicate our model in other sports,” Julia said.

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