If you don’t know what Sorare crypto is, stick around till the end of this article. We’re going to see what Sorare is, and why investing early in this project might be a good idea.
Non-Fungible Tokens are proving to be here to stay. After many ups and downs, most NFTs still hold their values irrespective of the cryptocurrency market. When you hold something valuable for you, its value should be preserved. This is especially true if you’re holding something on a blockchain. Many projects tried to start selling NFTs art and NFT cards, but few are the ones that have mainstream adoption.
Sorare is a company that tapped into NFT cards but at the same time has mainstream exposure. Unlike other NFT projects that sell chipmunks and lame art, Sorare is bringing a game loved by Millions if not Billions: Football.
What is Sorare Crypto?
Sorare is a French Fintech startup that allows users to build their own digital Football teams. Founded in 2018, the company first had the idea of creating an NFT marketplace of collectible cards for various football players and football clubs. This led to a first-round of series A financing of around 40 million euros. This year in September 2021, the company closed the second round of series B financing and got around 680 million euros. This was made possible thanks to several big names such as the Japanese FinTech SoftBank, alongside other venture capital funds, such as Benchmark, Accel and Headline, Atomico, Bessemer Venture Partners, and D1 Capital.
This significant valuation drew the attention of the French president Emmanuel Macron, who directly posted about the event on his private Linkedin account. He praised the french FinTech scene and specifically Sorare for being able to breakthrough and lift the country’s name higher.
Translation: Starting the year strong, nothing less than a new record (French and even European) of fundraising for French Tech! France counts with Sorare, the start-up of exchange of digital football cards, a new “unicorn”. Let’s continue to empower our entrepreneurs to build digital champions! – Emmanuel Macron
How many Football Clubs does Sorare host?
To date, Sorare boasts more than 200 clubs officially licensed. They also add new clubs every week, which keeps the momentum of the company strong. Usually, whenever you have a company that is active and always stays up-to-date, this is a great sign of a solid team behind the company.
Additionally, the company has to date 38 covered leagues. All those achievements are done thanks to strategic partnerships across clubs and associations. That’s why this project looks like a promising investment.
What are the Rarities of the Cards?
Currently, there are 4 rarities for the Footballers’ cards on Sorare:
- Limited: 1,000 per season
- Rare: 100 per season
- Super Rare: 10 per season
- Unique: 1 per season
Each collectible card of a footballer shows his name, country, age, position, and rarity.
Is Sorare a Good Investment?
Usually, investing in a company that is just starting to shine and is still somewhat underground is the perfect investment. For Sorare, not only did the company tap into a hot industry (Blockchain and NFT), but the French President praised the company worldwide, which gives significant credibility to the company. Usually, NFTs are somewhat underground, and presents insignificant “bad art”. Sorare played it smart and combined all the big elements that would bring it to the mainstream: Football, Football clubs, Fans, Coaching, and NFT.
If the company continues making great partnerships and delivers on its promise to continue in its tech operations, the project will most likely succeed and yield its early investors big time.