French firm Sorare, which sells football trading cards in the form of non-fungible tokens (NFTs), has raised $680m (£498m).
The NFT-based cards are used by fans to create fantasy football teams which can then "play" each other.
The funding was led by tech investor Softbank, with ex-England international Rio Ferdinand also putting in money.
NFTs are controversial, with concerns over financial risk and environmental impact.
An NFT is a "one-of-a-kind" digital asset that can be bought and sold like any other piece of property.
As with crypto-currency, a record of who owns what is stored on a shared ledger known as the blockchain and maintained by thousands of computers around the world.
Players can buy cards from Sorare at auctions, or fans can also auction cards they own to other players.
Sorare claims $150m worth of cards have been traded on the platform since January. The latest investment puts its value at $4.3bn (£3.15bn).
As NFTs, the cards can also be sold on platforms such as OpenSea and Rarible.
Sorare says it has partnerships with more than 180 football clubs and has 600,000 registered users.
A number of players including Spain's Gerard Pique and France's Antoine Griezmann also invested in the company.
The firm recently announced a deal with Spain's La Liga and told the Telegraph it hoped to have "something to announce" about the Premier League.