The Football Company aims to create a football metaverse based on avatars, licensed collectibles, and competitions. At the core of the offering is a football management game that follows the rules of fantasy football: Users create a team of footballers who earn points for them based on their actual performance during the season. They can follow their players' performance live in a virtual stadium.
The startup, founded in 2020, plans to generate revenue by issuing NFTs. Fans can then use these digital collectibles to equip their own avatars or trade them on a virtual marketplace. The startup has already received licenses from the Bundesliga and works with many of the teams. Almost at the same time as the funding announcement, Hertha released its own digital jersey collection for the platform.
Paul Keuter, member of the Hertha management, says:
"We are pursuing a long-term strategy in the web3 area to not only accommodate modern and digital developments, but also to significantly advance them with Hertha BSC. We want to create new offerings for our fans and develop digital business models for our club."
2.5 million euros for The Football Company
Participating in the €2.5 million seed round include Dreamcraft Ventures, Dapperlabs, Web3 Studios, and BLN Capital. Bayern Munich player Joshua Kimmich and AS Monaco player Cesc Fàbregas are also contributing. Brothers Niko and Robert Kovač, two former Bundesliga players (including FC Bayern Munich, Borussia Dortmund, and Bayer Leverkusen), previously joined The Football Company as founding investors.
Cesc Fabregas says:
"I'm excited to be working with TFC to provide football fans with easy and joyful access to the metaverse, where they can express not only their passion for football but also themselves, and I look forward to helping the company grow."
And Niko Kovač explains his investment as follows:
"The metaverse gives football fans incredible new opportunities to express their passion for their club and showcase their individuality. It will take the appeal of fantasy football to a whole new level."
And The Football Company co-founder and CEO Ante Kristo added:
“Our goal as football fans is to respect the heritage and culture of football while utilizing cutting-edge technology to create the most authentic and advanced virtual football experience yet.”
The funds from the financing round will be invested in the expansion into new markets and new employees. Startup lay the foundation for its scaling as a leading sports NFT ecosystem.
