Blockchain soccer gaming platform Sorare has raised $50 million in a Series A round, with investment from well-known tech companies like Twitter and Uber. Despite this success, the company has not yet invested in patents. But the Patent Forecast® shows that Sorare may have some time left on the clock to start building its portfolio.
Sorare's technology focuses on using blockchain for digital collectibles and fantasy football. The Sports subcategory of the Cryptocurrency Patent Forecast® is small, with fewer than 15 documents. This means that this area has a lot of potential, and a company could easily dominate the space with the right strategy. Some large companies like IBM and Sony do have more general patents for using blockchain and cryptocurrency in online gaming and wagering, while Nike has a patent incorporating blockchain into an online marketplace for rare goods. Without patents, Sorare lacks protection against companies that develop similar technologies. For start-ups, patents can also be used to increase funding and investor confidence and are valuable in licensing and acquisition down the line. Will Sorare get the ball rolling on these important assets? Or will someone else intercept? Subscribe to the Cryptocurrency Patent Forecast® to understand the best strategies and stay updated on future movement.
