In today’s briefing:
- It’s Merge Week
- Sporting Crypto – September 12th 2022: NBA Sign Multiyear Sorare Deal
It’s Merge Week
- Price Movements: Markets experienced a strong rebound dominated by ETH, which closed the week up 12%.
- Market Liquidity: USDC, TUSD, and USDP accounted for just 3% of total stablecoin volume on Binance before the exchange announced plans to de-list pairs and auto-convert deposits to BUSD.
- Derivatives: Open interest for Ethereum Classic (ETC) recently hit all time highs as miners shift computational resources to the hard-forked PoW Ethereum chain.
Sporting Crypto – September 12th 2022: NBA Sign Multiyear Sorare Deal
- The NBA, and NBPA (National Basketball Player’s Association) have signed a multi year deal with Sorare, to create the basketball league’s first NFT fantasy game.
- Before we talk about the NBA’s ventures into Web3, let’s remind ourselves of just how well Sorare have done over the past three years.
- Sorare, who started as an NFT Soccer fantasy game, have raised incredible sums of money including a $50m Series A which broke french tech records, followed by a $680m Series B raise led by none other than Softbank.
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