Sorare Global Fantasy Soccer Game

Event Review Corporate Innovation Summit 2020 LIVE

Looking for a new way to engage with sports? Sorare might just be what you’re looking for!

NFTs are everywhere this year, and their popularity is exploding. From celebrities like Lil Nas X to Azealia Banks, everyone has been taking the plunge into NFTs. Thus, it comes as no surprise that the gaming industry would join in on the NFT trend as well.

One of the experiments happening within the gaming industry is Sorare. Sorare is an NFT startup responsible for a global fantasy soccer game by the same name. The game has been on the blockchain since 2018. Let’s take a look at how Sorare works and what it brings to fantasy football fans.

How do you play fantasy football on Sorare?

Sorare is not too different from traditional fantasy football games. What separates the two is that instead of picking players from a list as you do in other fantasy football drafts, here, you need to purchase digital trading cards of the players you want to draft. The platform has cards of players from over 100 international teams across various leagues.

Using these trading cards, you can enter your drafted players into free tournaments and win both digital and physical prizes. Each week, Sorare has digital tournaments where you can put together a team of five players that fit the tournament’s requirements (for instance, some virtual tournaments only allow football players under the age of 21 to join).  

What’s so special about Sorare?

So you can buy digital trading cards and get prizes for tournaments on Sorare’s website. But what else is there? One of the special features offered by Sorare is that you can use the cards in games built by the gaming company Ubisoft and also the games created by the members of the Sorare community. 

You can also resell your trading cards as crypto-collectibles. Sorare has a limited number of cards. This means that buying the best players early on would almost guarantee you a return on investment later. To incentivize the use of the platform, Sorare provides 10 free cards when you register. 

In addition to these platform-specific benefits, the tokenization of sports memorabilia can serve as a way to connect fans across the digital space. This is particularly relevant at a time when physical viewings of sports games and in-person interactions with other fans have become a challenge.

The true testament to Sorare’s effectiveness are their numbers. In September this year, Sorare raised US$680 million in funding, taking the company’s value to US$4.3 billion. However, things aren’t all smooth sailing for Sorare. In October, the UK Gambling Commission began investigating Sorare to assess whether the sale and purchase of trading cards on the platform amounts to gambling. The platform has denied involvement in anything even remotely close to “regulated gambling”.

Header image courtesy of Sorare


Share on facebook
Share on twitter
Share on linkedin
Share on email
Kamya Pandey
Kamya is a writer at Jumpstart. She is obsessed with podcasts, films, everything horror-related, and art.


What Is the Best Business Model for an Online Food Delivery Startup

What Is the Best Business Model for an Online Food Delivery Startup?

As per a McKinsey report, the food delivery business was worth over US$150 billion in 2021. The global food delivery markets are four to seven times larger than they were in 2018. Every day, more and more people rely on apps to get their food delivered home. It is convenient, fast and affordable for customers.

Are DAOs the Future of Work and Startups

Are DAOs the Future of Work and Startups?

In August 2021, India-based blockchain startup Polygon decided to build the country’s first decentralized autonomous organization (DAO)—an organization run by its members, without any leader, on a blockchain. With the DAO, the startup aims to give users decision-making power to influence and even map out the startup’s future.

Why Is OpenSea Worth US$13 Billion

Why Is OpenSea Worth US$13 Billion?

Online non-fungible token (NFT) marketplace OpenSea is now worth US$13 billion, following a new investment of US$300 million in a Series C finance round led by hedge fund sponsors Paradigm and Coatue. Half a year ago, OpenSea was only valued at US$1.5 billion.

Why Is the IMF Concerned about Cryptocurrency

Why Is the IMF Concerned about Cryptocurrency?

With the crypto market hitting US$3 trillion as of November 2021, it is almost impossible not to believe that we are amid a crypto boom. While investors and miners might be excited about the rising interest in crypto, there are some who do not see this as a positive step.

How Do Crypto Liquidity Pools Work

How Do Crypto Liquidity Pools Work?

Be it for startups launching Initial DEX Offerings (IDOs) on decentralized exchanges (DEX) or cryptocurrency traders—liquidity pools have become indispensable. Liquidity pools are the virtual places where trading happens and companies make money. Before understanding their mechanism, let’s take a look at what they are.