Aussie’s investment in soccer star NFTs could be best seed deal ever
In early 2019, Chris Hitchen backed little-known electronic soccer star trading card start-up Sorare. Its growth has since exploded, and it is now worth $US4.3 billion.
An Australian flies to Germany, meets a Frenchman, and hands over $US100,000 ($137,000). It’s not a new Netflix trailer, but the untold story of Chris Hitchen’s seed investment in Sorare, a start-up that has risen 220,000 per cent in only 28 months.
Sorare, which looks Italian but is pronounced “so rare”, is a French start-up focused on non-fungible tokens (NFTs). These NFTs act like electronic soccer star trading cards and sit on the blockchain so ownership can be easily verified.
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Adir Shiffman is executive chairman of Catapult Sports and a serial investor and entrepreneur. Connect with Adir on Twitter.
