What’s Sorare: Play To Earn Game Shows the Potential of the NFT Sector

The NFT-based fantasy sports platform Sorare is currently one of the most discussed platforms in the crypto space. Well deserved, if you consider the active players. Sorare is a fantasy football manager game. Managers ( the name given to players) can create a virtual team, which consists of digital player cards. These player cards are NFTs on the Ethereum blockchain and can be purchased as well as traded there.

Sorare is one of the most successful NFT games and allows players to make decisions and optimize their squad based on the real-life performance of professionals.

Own Your Game — Experience football like never before, bringing fantasy to reality. — sorare.com

Sorare SAS was founded in France in 2018 by Nicolas Julia and Adrien Montfort. Prior to that, they both gained experience in the blockchain space by working together at the tech startup Stratum. Quickly, Sorare became the most popular game in the soccer NFT universe. There are currently well over 600,000 managers from 170 countries.
In September 2021, Sorare announced that another 580 million euros had been invested in a new funding round by Japan’s Softbank Group. Sorare is now valued at around $4.3 billion. The company employs around 200 people in Paris and New York, making it the most valuable startup in France.
Sorare now generates several hundred million US dollars a year by minting soccer trading cards.
The company also has expansion plans in other areas. It was recently announced that Sorare will soon launch its own platform for the American baseball league MLB.

Sorare has official license agreements with 245 clubs from 39 different leagues, with a total of 6000 different player cards. Among them F.C. Barcelona, Bayern Munich, Paris St. Germain, and others.
In addition to the numerous official licenses, Sorare has many well-known personalities backing the startup. Investors include Reddit co-founder Alexis Ohanian and the well-known multi-entrepreneur Gary Vaynerchuk. Sports stars such as Antoine Griezmann, Gerard Piqué, André Schürrle, Rio Ferdinand, Oliver Bierhoff, and Serena Williams are also among the investors.

Quickfacts:

• SoRare is a blockchain-based football fantasy game with real players and teams or leagues.
• Soccer NFTs are issued as NFTs on the Ethereum blockchain (ERC721 token standard).
• Earning money with Sorare NFTs is possible in two ways: trading soccer NFTs after value appreciation on the one hand, or weekly income based on the performance of soccer players lined up in the team.

The player cards are licensed digital collectibles: Each digital card is registered as a unique token on the Ethereum blockchain. The cards have a verifiable rarity. The cards’ existence and transaction history are transparently stored on the Ethereum blockchain.
As a result, the cards cannot be altered and are tamper-proof. Player cards come in five…