OneFootball Raises $300 Million led by Liberty City Ventures to Expand Into Web3

Key Takeaways:

  • Established a joint-venture with Liberty City Ventures and Animoca Brands called OneFootball Labs
  • Sports brands such as Nike, Manchester City have also recently tried its hand at Web3
  • OneFootball currently has over 1 Million active users
  • Series D Funding participants included Dapper Labs, Quiet Capital, Animoca Brands among others

Football media platform OneFootball made headlines as it raised $300 million to expand its presence into web3. Blockchain fund Liberty City Ventures led the funding. 

Berlin-based OneFootball, which currently has over 100 million active users, has also established a joint venture called OneFootball Labs. 

OneFootball Labs is a joint venture with Liberty City Ventures and Hong Kong-based gaming platform Animoca Brands. OneFootball Labs aims to enable leagues, federations, soccer clubs and players to create new digital fan experiences using blockchain technology. Fans will now be able to purchase as well as store digital collectibles with their email and a credit card.

“We believe the future of football away from the stands and off the pitch will be decentralised and built on web3, giving back the ownership of data and digital assets to the fans,” Lucas von Cranach, Founder and Chief Executive Officer of OneFootball said in an official statement on Thursday(28th April). 

“The potential of introducing over 100 million users to relevant NFTs for the first time has the potential to be truly groundbreaking. We see this as a catalyst for mass scale Web 3 adoption for the whole industry,” said Mik Naayem, chief business officer and co-founder of Dapper Labs, a participant in the Series D funding round of OneFootball.Dapper Labs is also the company behind NBA Top Shot, a popular set of digital collectibles.

The Series D funding round included participation from DAH Beteiligungs GmbH,Animoca Brands, Dapper Labs,Quiet Capital, Alsara Investment Group, RIT Capital Partners, and Senator Investment Group.

Apart from OneFootball other sports brands are also trying their luck at Web 3.

Adidas teased in November last year about a possible partnership with The Sandbox metaverse. The sports giant Nike in late 2021, purchased RTFKT, an NFT fashion collectibles startup targeting the virtual world. In 2021, Manchester City said it was partnering with Sony to launch a metaverse that mimics Etihad Stadium, its home stadium.

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Saniya Raahath

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