A Sorare NFT trading card based on NBA rookie sensation Victor Wembanyama fetched more than $110,000 on Thursday, significantly surpassing the $67,333 paid for his physical trading card back in August by an individual collector.
This unique NFT card, issued by the officially licensed fantasy basketball game Sorare, was sold for 61.182 ETH, which equates to about $110,120 when the auction concluded. The NFT represents a one-of-a-kind edition, making the auction winner “YNWA” the sole owner of this digital collectible.
A spokesperson for Sorare emphasized the significance of this sale within the digital collectibles market, highlighting the remarkable talent and rising stardom of Victor Wembanyama in the NBA. They also pointed out the inherent advantages of owning a digital Sorare card over a traditional physical sports collectible, including proven ownership and practical utility.
In August, Wembanyama’s physical trading card set a record by selling for $67,333 on Goldin, a collectibles auction platform. This physical card was a “pre-rookie” card released prior to his official NBA debut.
The unprecedented success of this NFT sale is a testament to Wembanyama’s rapidly growing reputation as one of the league’s most promising young talents. Recently, the 7-foot-4 center delivered an outstanding performance, scoring 38 points, grabbing 10 rebounds, and blocking 2 shots, helping his team, the San Antonio Spurs, defeat the Phoenix Suns with a score of 132-121.
Sorare is a cryptocurrency-based fantasy sports game where collectors acquire NFT digital player cards using Ethereum to assemble virtual teams of five players in soccer, basketball, or baseball. Based on their players’ real-world performances, collectors can earn rewards in the form of cryptocurrency and additional NFTs.
According to data from CryptoSlam, Sorare has generated over $713 million in NFT sales on its platforms so far. In 2021, the company secured a substantial Series B funding round, raising $680 million and valuing Sorare at $4.3 billion.
Sorare NBA achieved its highest NFT sale record in February when an NFT featuring Giannis Antetokounmpo from the Milwaukee Bucks was sold for 113.9 ETH, approximately $187,000 at that time.
The platform is gaining popularity among athletes as well. In the previous year, soccer superstars Kylian Mbappe and Lionel Messi, along with tennis legend Serena Williams, all joined Sorare as investors and brand ambassadors.