Sorare has quickly climbed the ranks as one of the most trusted platforms amid the blockchain gaming industry. Backed by several strong partnerships, including professional teams such as Juventus, Paris Saint Germain, Lyon, Lazio, and Rome, the main idea behind the company is to use ERC721 collectibles to popularize and spread the use of blockchain technology for the masses.
What Are ERC721 Tokens?
ERC721 tokens are Non-Fungible Tokens (NFT), meaning they are all unique compared to each other (which ends up being perfect for digital collectibles).
Unlike many similar projects, Sorare’s collectibles are unique assets licensed by official soccer clubs and leagues.
The idea initially took place on Loom Network’s plasma chain, but now it is integrated into Ethereum due to a bridge-like technology. Sorare expects to make it available on other blockchains soon.
How Does It Work?
Anyone can take part in the game, simply by registering using a username and an email address. Then, you can start creating your exclusive team by choosing 5 cards of defenders, midfielders, forwards, and wings. These cards are all unique Non-Fungible Tokens, so users can buy it using the Sorare platform or via secondary markets like OpenSea platform, for example.
The platform issues each player a unique NFT, plus 10 Super Rare player cards and 100 Rare cards throughout each season.
Sorare’s gaming experience is very interactive and fun, as users can participate in several competitions against other players and win prize pools.
As the cards are unique and collectible by design, their value naturally tends to increase over time, as scarcity plays an intrinsic role in the NFT game. In February, some cards were sold for up to $2000, so it is easy to understand why the platform is growing so quickly.
The platform relies heavily on usability, as it was designed specially to provide all users smooth gaming experience.
It aims to attract soccer fans of any age, regardless of gender and location, providing people with a consumer-grade easy-to-use application.
As Sorare’s project is structured atop of Ethereum blockchain, the platform provides a guide for users who may not know how to deal with ETH, so even non-crypto people can have fun in the same way.
One of the reasons behind Sorare’s quick uprise is due to the partnerships the team managed to conclude in just two years.
The platform partnered with several clubs in the French League 1, Italian Serie A (including the legendary Juventus FC), and also German clubs such as Bayer Leverkusen, summing up to over 40 licensed official clubs, including Lazio, AS Roma, Atletico Madrid, Porto, Schalke, etc.
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Sorare successfully managed to display widely known footballers like Cristiano Ronaldo among its most desired collectibles due to this type of strategy, which has attracted thousands of fans worldwide.
Plus, the competition level is always encouraged by potential prizes and rewards, which makes the game even more interesting.
In collaboration with BTCManager, the platform recently launched an initiative for users to explain why they believe the player they own is the best player on Sorare.
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The action required users to have at least one card in the platform, also using Twitter to explain why the chosen card is the best player of the game (with a limit of at least 5 tweets or a maximum of 10 tweets).
The winners are those who received the most positive interactions (like and retweet), ranking 1st, 2nd, and 3rd according to their results.
With an ever-growing number of sales, Sorare returns part of the value directly to right holders such as leagues, clubs, or player associations. Hence, clubs don’t choose to partner Sorare for pure charity.
Despite the costs of an officially licensed product, the strategy already proved to be highly profitable, as the number of users doesn’t stop growing day after day.
About the Team
Based in Paris, Sorare was co-founded in 2018 by Nicolas Julia and Adrien Montfort. They envisioned building a crypto-based product to reach millions of people and further blockchain adoption by ordinary people.
The two co-founders met previously at Stratumn, a leading provider of blockchain solutions, working together for some time before opening Sorare.
After developing a strong interest in NFT’s like CryptoKitties, they concluded this type of approach would be the next step for the mass adoption of blockchain by consumers.
Sorare is backed by important investors, including the colossal Ubisoft, Seedcamp, KimaVentures, and Consensys.
Sorare impacted the crypto industry by creating an enjoyable product with full potential to help the blockchain to finally reach mass adoption.
Online soccer was already an important niche, but Sorare went a step further by adding the blockchain technology to the concept of collectible sports cards, which has been a trend for decades.
Empowered by the scarcity, these collectibles become real-world assets controlled by users only (the platform doesn’t have custody over this, that’s the essence of the blockchain), which stimulates profitable exchanges and a time-related increase in cost-benefit.