Sorare Broadens User Base with Cash Wallet

Sorare, a blockchain-based fantasy sports platform, has taken a big step towards inclusivity and accessibility by allowing users to complete cash transactions. In the past, the platform required using a cryptocurrency wallet and Ethereum (ETH) for purchases. Now, players can engage with the fantasy sports trading cards that Sorare offers without navigating the complexities of the crypto world.

Adopting Cash Transactions

Since its beginning in 2018, Sorare has carved out a niche by combining the thrill of traditional fantasy sports with the appeal of trading card collectability. The platform enables users to acquire, trade, and assemble teams of NFTs representing real-life athletes. These NFTs or ‘cards’ are available in varying rarities, and their prices are dictated by market forces during auctions. Until recently, these purchases required using the Ethereum platform, necessitating a crypto wallet.

Partnering with Mangopay is a forward thinking move for Sorare and the broader Web3 industry. With the introduction of a cash wallet, users can connect their bank accounts, store card details, and deposit or withdraw funds for various transactions. These include purchasing card packs, participating in auctions, and selling cards.

The wallet supports transactions in US dollars, Euros, and British pounds, as well as Ethereum crypto transactions for those wishing to continue using Ethereum. The cash wallet feature will be available to all Sorare players from August 2023.

Sorare’s Vision for Accessibility

Nicolas Julia, CEO and co-founder at Sorare, has expressed his views on this transformative development. “Sorare is built using blockchain technology because we believe it can deliver unique benefits to sports fans and fantasy gamers in the form of proven authenticity, scarcity, and portability,” Julia stated.

“However, new technologies must be accessible to all if they are to fulfil their potential. The launch of Cash Wallet is key to our goal of making Sorare as simple and user-friendly as possible for all sports fans, and we are thrilled that we can now enable Managers to build their teams and collections using real-world (or fiat) currencies for the very first time,” he added.

Sorare Ushers in the 2023-24 Season with New Features

In addition to the shift towards fiat transactions, Sorare is introducing new features for its 2023-24 season. The season will witness the introduction of two new competition gameplay loops aimed at amplifying the competitive spirit and passion for football among Sorare players.

Long-format competitions will be a fresh addition to the Sorare ecosystem, starting with Global All-Star. This inclusion enhances the platform’s current competitions and adds a unique twist to the weekly tournaments later in the season. From September, Sorare Managers engaging in Global All-Star competitions will compete on two short and long formats of leaderboards. Significantly, the long-format leaderboard spans eight Game Weeks, with a manager’s top-four scores deciding their final leaderboard standing.

The introduction of a cash wallet not only bridges the gap between blockchain technology and traditional finance, but it also presents an opportunity for wider accessibility and increased user engagement. Furthermore, the integration of new competition formats signals the platform’s dedication to continuously improving the gaming experience for its users.