To Create Football Metaverse, Startup The Football Company Nets €2.5M

May 05, 2022 | 2 minutes read

The Germany-based startup raises €2.5M  to create a football metaverse based on avatars.

With the global metaverse market forecasted to reach $ 47.48B, the new startups with innovative ideas are emerging on the horizon. Their purpose is to harness the power of metaverse to serve their consumers.

One such startup after Tomorrow’s education is The Football Company which has recently raised the funding of €2.5M. The seed round was led by Dreamcraft and saw the participation of DapperLabs, web3 Studios, BLN Capital, and professional football players such as Joshua Kimmich and Cesc Fàbregas.

To give consumers an authentic and advanced virtual football experience, the startup was founded in 2020 by two brothers  Ante Kristo and Josip Kristo.  Ante Kristo, CEO, while explaining his aim of preserving the legacy of football by bringing it into modern era said

-“Our goal as football fanatics is to respect the legacy and culture of football while using cutting-edge technology.”-

Metaverse Startup The Football Company’s Avatar Image Credits: Flow

The startup has quite an interesting idea as it sells tokens that represent analogue merchandise in the form of 3D objects- with which users can equip their avatars. Other than  avatars it also comprises of licensed digital collectibles  which can be traded on The Football Company (TFC) marketplace.

The fans can buy these items, and include them into their collectables and earn rewards  by managing the squad of players in the  fantasy experience immensely close to real-life sports performances.

Moreover, the Munich based startup has already dropped four NFT collectibles with its partners. Thus generating more than €270,000 in profits in less than four weeks. Astonishingly all drops were sold out in less than 24 hours.  

With this fresh injection of funds the startup aims to clasp the Europeon market and hire new employees. Plus set the ground to expand the sports NFT emviroment.