Thread by @theweb3sharma

SORARE is bringing fantasy GAMING to masses

🧵 on Why SORARE could be a big deal?

#sorare #crypto #gaming #technology

Sorare is a leading free-to-play web3-based fantasy sports game.

Key features include partnerships with:

🔸Sports stars Serena Williams, Lionel Messi, Zinedine Zidane etc.

🔸New prominent sports leagues

🔸The number of partnered soccer clubs reached 250 by July

🔸Currently more than 10,000 athletes available as NFT cards

Current state:

🔸Sorare’s successful start was not enough to immunize them from the 2022 market crash

🔸Floor prices for their in-game assets dropping as much as 90% since January

The project has remained in the top ten traded NFT collections month after month the entire year based on:

🔸Sales volume
🔸Number of transactions 30 days

What makes the model Sustainable:

🔸The game eschews a complex token economy and centers around a simple NFT-based one.

Simply put,

🔸Sorare regularly sells new athlete NFT cards each month

🔸Gives back part of the proceeds as rewards in the game’s weekly tournaments.

The game has net-inflows, which is profitable for the business.

Plus,

🔸Players understand that not everyone can profit, and there’s potential future upside if Sorare ever decides to institute royalties or charge players for transaction fees.

Sorare’s first-party marketplace saw a total of 2M transactions as of March and the average number of transfers per user is just under 50

🔸Unique buyers increased 51% YoY

🔸Monthly average sales have remained relatively stable

Updates and improvements to the user experience

🔸The official Sorare app launched on both iOS and Android devices (hitting 500k downloads)

🔸Users can purchase in-game assets (NFTs) with fiat using payment processors such as Moonpay.

🔸Users skew toward more developed, higher income regions (versus the developing, lower income regions that most P2E games reach).

Furthermore,

🔸Marketplace updates, such as the new counteroffers and price history features, have made it easier for users to assess and trade assets,

Sorare has done a great job of empowering its community to build new features.

🔸New social features, such as private leagues and the “Play with Friends”
competitive leaderboards

🔸App retention admittedly doesn’t look great versus industry benchmarks

Way forward:

🔸Improve the user experience
🔸Abstract the complicated blockchain elements
🔸Maintain their competitive advantages
🔸Reach a wider (non-web3) audience

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