After successfully securing $680 million via fundraising, NFT marketplace Sorare is reportedly planning to take a more active stance, regarding connecting sports and digital entertainment.

Specifically, the newly acquired funding – which helped the entity to achieve a $4.3 billion in overall value – will reportedly be channeled towards widening the scope of its operations via onboarding new human resources and forming new alliances, together with assisting community-led programs.

Apart from collaborating with community-led football programs, designed to offer assistance to young individuals from disadvantaged backgrounds, as well as supporting underprivileged entrepreneurs in sports and gaming, Head of Sorare – Nicolas Julia – further explained via an email that the NFT unicorn will also be throwing their weights behind female representation in sports.

“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 – an NFT marketplace headquartered in Paris, France – reportedly deals business primarily in sports, and has become the talk of the town in September after a SoftBank-led $680-million Series B funding.

Julia reportedly disclosed additional information regarding the way Sorare plans to utilize the raised capital for business purposes, beginning with hunting for fresh faces for the team, for both its operations in America and the EU. 

He further shared that the new alliances will bring the marketplace to many new football leagues and national teams. This kind of alliance will need an upfront payment, and Sorare is sufficiently loaded to finalize the agreement with the top 20 leagues and top 50 national teams, thanks to the hefty funding.