Fantasy football is a favorite pastime for millions of football enthusiasts worldwide. But what happens when you combine the game with decentralized technology and tokenization? This guide takes a look at the blockchain-based fantasy sports platform Sorare and considers its long-term potential in 2024 and beyond.
KEY TAKEAWAYS
► Sorare combines fantasy football with blockchain technology, allowing users to buy, sell, trade, and manage teams using NFT-based player cards.
► The value and performance of Sorare’s digital cards are tied to real-life football players’ statistics.
► Sorare uses blockchain technology to ensure users own their digital cards, creating scarcity and enabling transparent NFT trading.
► Sorare connects football fans globally, offering licensed cards from major leagues and clubs, including the Premier League, with opportunities for in-game rewards.
What is Sorare?
Sorare is a blockchain-based fantasy football (soccer) game where players can buy, sell, trade, and manage a virtual team. The platform lets players buy or sell digital collectibles as NFTs.
These NFTs represent real-world football players.
Note that these NFTs are unique, and only a single person can possess a particular player. Thus, this, in theory, makes each one sought-after.
Each NFT has specific statistics and stats that reflect the player’s performance during a season. Some relevant stats included in the overall performance include goals, assists, or clean sheets.
Different competitions include the Champions League, Europa League, FIFA World Cup, and Conference League. After finding a preferred candidate across different leagues or competitions, users can buy their NFT using ETH.
Users can freely navigate different leagues and competitions on the platform. You can select players from the English Premier League, Serie A, La Liga, Bundesliga, and Ligue 1.
Fantasy football and blockchain
Fantasy football is a growing market. A report by Allied Market Research predicts its value will grow to $50 billion by 2027. Now, the introduction of blockchain technology opens new opportunities for football lovers to explore.
The merging of fantasy football and blockchain technology creates many opportunities, both for users and for the adoption of web3 technologies. Some inherent benefits that users can access include:
- Increased security
- Transparency
- Global access to games
Traditionally, one of the core dynamics of fantasy football is the connection of football enthusiasts across the globe. Yet, due to geographical restrictions, most players remain locked out of different leagues and competitions. Blockchain-based platforms such as Sorare break these barriers.
Players from different parts of the world can join and participate in different leagues and competitions. The enhanced level of access opens a new window of opportunity for users to join the global football community. Blockchain’s arrival into the fantasy football world can also increase security and transparency in the game.
A blockchain is essentially an immutable digital ledger. In this context, this ledger can record infinite data about players, leagues, stats, player cards, and virtual soccer teams. Therefore, it becomes impossible for third parties to corrupt this data for their benefit.
Sorare’s utilization of blockchain is key to:
- Decentralized and transparent trading
Sorare offers collectible card games that are similar to real-life trading cards. The traditional version involves acquiring and utilizing in-game goods but not owning them. But with the Sorare marketplace, players truly own NFT cards after purchasing. Blockchain facilitates the platform’s play-to-earn mechanics.
2. Player scarcity and rarity
Players aim to collect cards that are both rare and scarce. These cards fetch more value than others. As a result, there will be fewer of these cards available to collect for others.
Sorare is a platform built on the Ethereum blockchain; a certain number of cards exist in the game to create a “scarce” supply.
What are the key features of Sorare?
Sorare is packed with features, allowing users to do the following:
Collect and trade digital soccer cards
Users at Sorare become part of the global football fantasy community by collecting NFT trading cards. At first, new users can look for undervalued players in auctions. Then they can play the player in different competitions to ramp up the value. Later on, users can sell their NFT cards to other players.
Build and manage your virtual soccer team
Managers have to build a five-a-side team consisting of players with different attributes. Selecting inactive or injured players means losing out on important points during a game week.
Each team is made up of a goalkeeper, defender, midfielder, attacker, and an extra player. Select the preferred players to fill these positions in the squad. The extra slot is instrumental in covering for a position on the squad.
In addition, the manager must select a team captain who earns a 20% bonus throughout a game week.
Participate in tournaments and competitions
Sorare welcomes team managers into different tournaments with opportunities to win various prizes. These tournaments are free to enter.
Team managers are eligible to receive gifts after attaining the top 30% of the tournaments while possessing a tier 3 player. The manager that achieves the highest position in the tournament receives cash rewards.
Earn in-game rewards and prizes
Users can participate in weekly tournaments to earn in-game rewards and prizes from their squad. Taking part in tournaments raises the value of your squad players while gathering other cards along the way.
Each tournament comes with a power cap requirement to protect the integrity. Sorare rewards top managers on the platform with limited NFT cards.
Licensed football clubs and players
On Jan 30, 2023, the Premier League announced it had signed a four-year deal with Sorare that earned the platform a license on official player cards. Sorare users can purchase and use the official Premier League-licensed NFTs with exclusive multi-year agreements.
A global football community
Sorare remains is a mission to bring football fans and enthusiasts worldwide to be part of a global football community. The platform is frequently working on integrating clubs and new leagues. Sorare currently features three categories: an all-star league, an under-23 league, and a casual league.
A look at Sorare manager mode
Joining Sorare means selecting and managing a team through a season or tournament. Here is what you need to know about manager mode. Players must:
Become a virtual football manager: The first task in the manager’s portfolio is selecting a team of eight players within a budget, adding up to 100 points. The virtual football manager must select two players for each position: goalkeeper, defender, midfielder, and attacker.
Make tactical decisions and transfers: The next task for a virtual football manager is making tactical decisions and transfers through a season or tournament. Many factors can affect the tactical layout of a game, including injuries, schedule congestion, player performance, and fixtures.
Compete against other managers: A virtual football manager competes for the most points through a tournament or a football season. Players’ real-life performances determine the official Sorare scores. The system tracks through 48 different stats, making it one of the most advanced scoring systems in fantasy sports.
Is playing Sorare gambling?
At its core, Sorare is a play-to-earn game. There is an element of exchange to the platform where players can only take part in fantasy football games through the purchase of fixed-price player cards.
Sorare does not feature a “randomized mechanism” for its player card purchase, unlike other gambling platforms. This is because players purchase collectible items not defined as loot engagements.
Moreover, the select fantasy football games do not feature random odds with an allocated prize pool. Thus, it is not considered gambling.
Blockchain and football: a partnership for the future
Sorare is transforming the nature of traditional fantasy football by creating a highly engaging and rewarding platform. The blend of fantasy football and blockchain technology has the potential to transform the way users view sports and collectibles.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. You can lose money playing any P2E game.
Frequently asked questions
Can you make real money on Sorare?
How is Sorare making money?
What does Sorare do?
Do you need money to play Sorare?
Is Sorare a crypto?
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Who owns Sorare?
Is Sorare legitimate?
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