What is Sorare, this new phenomenon, compared by media to a digital Upper Deck or a Panini album of the future , which attracts more and more soccer fans? Officially, Sorare is introduced as a world fantasy soccer game, in which players buy, sell, trade and manage a virtual team with digital player cards. Is Sorare a temporary interest, a scam or a new and lasting phenomenon? Explanations.
Sorare, a 2.0 collectible card game
Let’s start at the beginning. Before we talk about Fantasy Football, each user must first collect digital soccer cards before they can be used for other purposes, such as playing the Fantasy Football game on the site.
Collecting cards will remind the older ones of the mythical Panini albums for Europeans and its legendary cards (Carlos Valderrama and Jose Rene Higuita during the 1994 World Cup for example) or basket / baseball cards for Americans, while the younger ones will think of the more recent phenomena Pokemon, Digimon, Dragon Ball or even Yu-Gi-Oh. Collecting is not a new phenomenon, since from a very young age, most of us collected various things, such as marbles or many other things. This attraction does not disappear with time, and the generations of card collectors from 20 years ago are the same ones who feed the craze and the economy that have been created around these phenomena, as the recent craze around Pokémon cards attests.
Similarly, Sorare implements a similar card scarcity system that limits the number of copies available in the world for each player card. As users can buy and resell their cards through a trading platform, the price of each card is self-determined by the classic economic model of supply and demand.
We are witnessing a major paradigm shift: cards are no longer only traded in playgrounds, it is now an international market on which you may gain or lose money. In this context, everyone is now secretly dreaming of finding the future Lionel Messi, Cristiano Ronaldo or Kylian Mbappe and making a huge financial gain by selling it to the highest bidder, be it from France or elsewhere.
Sorare, a young Fantasy Football
In addition to card collection, Sorare also offers a Fantasy Football experience. Each week, you become the coach and compose your team of 5 players who will earn points according to their real performances.
Depending on the performance of your teams, you may win rare cards, signed jerseys and/or ethers (the virtual currency upon which Sorare is based).
Although the interest of Fantasy Football is certain for collectors, because of the potential rewards, the experience of play remains for the moment limited (format with 5 exclusively, no inter-player confrontations, etc.) and would deserve to be improved. Fantasy Football, yes, but for the time being, it could be greatly improved.
Sorare, a success that arouses curiosity
Let’s face it, collecting Panini cards or other cards has never raised 50 million dollars, even for soccer. The Sorare phenomenon can probably be explained by a combination of several factors, including at least the following:
- Money: Sorare’s recent fundraising, combined with the extraordinary spotlight put on non-fungible token (NFT) technology by the sale of a single image for $69 million, was enough of a spark to trigger a new digital gold rush in all media.
- New technologies (blockchain, NFT, etc.): Sorare uses a technology that can be described as relatively emerging, called blockchain. Very briefly, the blockchain is like a giant digital book accessible to all and unalterable which contains the history of all the exchanges made between its users since its creation. The interest of this giant book is to allow, among other things, to be able to manage asset transfers (votes, shares, bonds… or collectibles !).
- Passion: most popular sport on the planet, due to its accessibility and its great media exposure, soccer arouses a passion sometimes to the extreme. And if passion is already difficult to explain, reason can no longer be explained when it comes to quenching it.
What is Sorare? It’s all of it!
So, how can we synthesize what is Sorare? New technologies, money, investment support, momentum, Sorare is a potential in the making, to be polished, which has very recently offered itself via its fundraising the means of its ambitions for the years to come. Many people missed the first round before the exceptional growth of March 2021, which allowed the first users to make great financial transactions.
And, will you go for it?
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Read more: Get a free card on Sorare
You are still hesitating and want to have a feedback on the game? I offer you a personal opinion on the matter: should you invest in Sorare in 2021?
The next blog post will focus on the various risks on Sorare.
See you soon,