Following the viral popularity of NBA Top Shot earlier this year, Dapper Labs recently signed a deal with LaLiga to create a similar experience for soccer fans, according to a source with knowledge of the agreement. The LaLiga platform is set to launch in June 2022.
Financial terms of the agreement were not disclosed, but it is expected to resemble the NBA partnership, which included revenue sharing for secondary market transactions. NBA Top Shot has hosted nearly $700 million in transactions, according to CryptoSlam, with interest ticking up amid a late-summer crypto rebound. Top Shot landed its millionth user this spring, and Dapper Labs is now reportedly being valued at more than $7.5 billion.
The last year has been harder on LaLiga. Spain’s top soccer league has had to fight off plans for a European Super League while dealing with billions in lost revenue during the pandemic. As it looks forward, the league recently agreed to a deal with private equity firm CVC Capital Partners. The investment, which league officials refer to as “Boost LaLiga,” will bring in more than $2 billion in exchange for a long-term cut of future revenue. LaLiga was valued at roughly $28 billion during the process.
Dapper Labs’ LaLiga offering will be available around the world, with focuses on both the U.S. and European markets and support for Spanish-speaking users. The source said all the major top-flight clubs, including FC Barcelona and Real Madrid, would be represented, and that video moments from current seasons as well as the last decade and beyond will be sold, likely using a pack model similar to NBA Top Shot’s. Like it has done with the NBA, Dapper Labs plans to offer real world experiences to certain LaLiga NFT collectors. Representatives from Dapper Labs and LaLiga did not respond with comment by press time.
Dapper Labs also has a partnership with the UFC to create unique digital clips, though release timing has not been announced. Since the LaLiga season started, savvy viewers have noticed ads for Dapper Labs’ Flow blockchain appearing during matches.
To this point, Sorare has been the biggest player in soccer-related NFTs, hosting more than $70 million in transactions from more than 450,000 users. It merges card collecting with fantasy sports, and currently features players from four LaLiga clubs.
In the past, Dapper Labs CEO Roham Gharegozlou has discussed games being built on top of platforms like Top Shot as well. More ways for collectors to display their collectibles are also on the way, he has said, as digital worlds continue to mature.