What is Sorare? Sorare is a fantasy sports game that combines Non Fungible Tokens (NFTs) to buy and collect digital tokens. So what is special about the Sorare project? Let’s find out with Weakhand in this article.
Before jumping into the article, everyone can refer to some of the following articles to understand better.
- What is Sports NFT? Unique combination of sports and Blockchain technology
- 12 Types of NFTs From Art to Memes
What is Sorare?
Overview of Sorare
Sorare is a fantasy sports game that brings exciting experiences to users by combining Non Fungible Tokens (NFTs) to buy and collect digital player cards. Players will create their squad weekly to participate in a tournament, and points are awarded based on the real-life statistics of professional players.
NFTs add an extra dimension to the game by tokenizing player cards, allowing users to trade the cards and earn profits by selling them on NFT Marketplaces such as: OpenSea and Rarible. For players to own from over 200 teams, Sorare will offer a wide selection of digital trading cards.
What is Sorare?
The projected market size for fantasy sports is $48.6B by 2027, and NFT games like Sorare are quickly gaining popularity thanks to their innovative business model. In addition, from initially being limited to soccer tournaments, Sorare has now expanded to the NBA and MLB, helping to attract and increase the reach of users to its platform.
Sorare’s mechanism of action
Although it is essentially a fantasy sports game, it brings special experiences to users. Instead of choosing players from a pre-existing list, users will purchase digital player cards encrypted using the Ethereum blockchain. These player cards are owned by the players and they can freely sell them on NFT Marketplaces such as: OpenSea and Rarible. Furthermore, NFT tokens are central to Sorare’s story and offer crypto rewards as well as unique and rare tokens.
To participate in the game, users can register for different tournaments on Sorare including: Under 23 tournament, regional tournament and new tournament. Every week, each player will set up a squad of 5 players using their existing player cards. For soccer tournaments, the 5 players will include the following positions:
- Prime language
- Defender
- Midfielder
- Striker
- Additional (Reserve)
Then, players will choose the captain of their squad. Please note that team captains can earn an additional 20% bonus points during a match week. Points are calculated at the end of the week based on the players’ actual performance, and players with the highest scores have a chance to receive exclusive rewards such as rare cards and several other rewards.
What is the Sorare difference?
Sorare is a unique combination of fantasy sports gaming, sports collectibles, and NFTs creating an amazing experience for players. Additionally, Sorare delivers realistic fantasy-style competition from real-world player data. The game also boasts licenses from many global football leagues, allowing the use of real team names, player photos and card images from some of the world’s most famous football clubs.
Core Team
Nicolas Julia: Co Founder & CEO
- Nicolas began working as a senior consultant at Eurogroup Consulting France – an independent strategic and organizational consulting company in Europe with 1,000 consultants across 16 countries since September 2010.
- In January 2015, Nicolas moved to work at La Javaness – a company providing business solutions powered by AI as Co Founder.
- After just over 1 year working at La Javaness, Nicolas moved to work at Stratumn as VP Operations from January 2017.
- In September 2018, Nicolas joined Sorare and is currently holding the position of Co Founder and CEO at Sorare.
Adrien Montfort: CTO
- Adrien started his career as a programmer at several companies such as GG Factor, IDOL and PAYMIUM between September 2012 and June 2016.
- After that, Adrien got interested in Blockchain and moved to work as VP Engineering at Stratumn – a platform for developing enterprise-level blockchain applications. Stratumn raised 8M euros in June 2017 from Nasdaq Ventures, Open CNP,…
- In October 2018, Adrien moved to work at Sorare as CTO.
Investor
- July 2020: Sorare announced the successful call for 4M USD from Partech, Semantic,…
- February 2021: Sorare announced a successful call for 50M USD led by Benchmark. There is also the participation of investors Accel, Gary Vaynerchuk,…
- July 2021: Sorare announced successfully calling for 532M USD from two investment funds SoftBank Group and Atomico.
- September 2021: Sorare announced the successful call for 680M USD from investment funds SoftBank Group, Atomico, Accel, Partech,…
Tokenomics
Update…
Sorare Project Information Channel
- Website: https://sorare.com/
- Twitter: https://twitter.com/sorare
- Discord:
summary
Although going in a less popular direction in the market, Sports NFT, Sorare has affirmed its success from receiving huge investment from investment funds to attracting a large number of participants to the platform. Above is all the information that I want to introduce in this article, hope everyone has received useful knowledge.
