An NFT trading card featuring NBA rookie sensation Victor Wembanyama recently sold for an astounding $110,000 on the officially licensed fantasy basketball game Sorare. This price far exceeds the $67,333 paid for his physical trading card back in August.
The unique single-edition card was purchased for 61.182 ETH, equivalent to about $110,120 at the time of the auction’s conclusion. With “YNWA” as the auction winner, they now possess the exclusive NFT. A Sorare spokesperson expressed their excitement, stating, “It is a milestone for the digital collectibles market that the highest amount ever paid for a Wembanyama card is now for a 1 of 1 digital Sorare Unique card. It is a testament to Victor Wembanyama’s enormous talent and popularity as a rising star of the league, as well as the core advantages of a digital Sorare card over a traditional physical sports collectible – proven ownership and real utility.”
Record-Breaking Sale and Rising Reputation
Back in August, Wembanyama’s record physical trading card sale reached a price of $67,333 on Goldin, an auction platform for collectibles. This physical card was a “pre-rookie” card released ahead of his official NBA debut. However, the recent sale of his NFT card can be attributed to Wembanyama’s fast-growing reputation as one of the most talented young players in the league.
Just yesterday, the 7-foot-4 center delivered an outstanding performance with 38 points, 10 rebounds, and 2 blocks, helping his San Antonio Spurs secure a victory against the Phoenix Suns with a score of 132-121.
The Rise of Sorare and NFTs
Sorare, a cryptocurrency-based fantasy sports game, allows collectors to purchase NFT digital player cards using Ethereum. These cards can then be used to create a virtual team of five players in soccer, basketball, or baseball. Collectors can earn rewards, such as cryptocurrency and additional NFTs, based on the real-life performances of their players.
According to CryptoSlam data, Sorare has made over $713 million in NFT sales across its platforms to date. In 2021, the company secured a significant Series B funding round of $680 million, 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, equivalent to approximately $187,000 at that time. The platform is also rapidly gaining popularity among athletes, with soccer stars Kylian Mbappe and Lionel Messi, along with tennis legend Serena Williams, joining Sorare as investors and brand ambassadors.
