Sorare (Markdown)
Paris fantasy-sports-NFT unicorn Sorare raised $680M from SoftBank at $4.3B in 2021, then reportedly suffered massive valuation markdowns and revenue collapse as the NFT market crashed.
2018 → 2023
$735M
Web3/Fantasy Sports NFTs
France
Full Analysis
Paris-based Sorare raised $680M from SoftBank Vision Fund 2 in 2021 at a $4.3B valuation — at the time France's largest-ever Series B. Following the NFT-market collapse of 2022-2023, Sorare's primary-market card sales fell over 80%. SoftBank reportedly marked the position down significantly through 2022-23. While the company remains operational, the post-2021 cycle has destroyed billions of dollars of paper-investor-value — one of the most cited European Web3 corrections.
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