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Sorare: Web3 Game Winning Economics and Sustainability

Sorare: Web3 Game Winning Economics and Sustainability

Game Review 

Find out how the successful in-game economy of Web3 card game Sorare, which is based on Ethereum, helped it make it through the crypto winter.

There are only a few web3 games that can keep their in-game economies going during the crypto winter. On the other hand, the economies of most Web3 games, including the most popular ones, have been getting worse over the past few quarters. In this article, we talk about Sorare, which has been one of the most popular Web3 games in recent years despite some problems. Sorare is an NFT card game about fantasy sports that uses the Ethereum blockchain. Devin Becker of Naavik says that in 2022, the game’s secondary market sales brought in more than $350 million.

Also, the game has brought in a whopping $90 million in 2023 so far. But what is the secret to Sorare’s model for a stable economy? How did it land mega deals and get football licences? In terms of tokenomics, where does Sorare stand? And what about the fact that it has spread to other sports? In a recent podcast interview by Naavik, Brian O’ Hagan, who is in charge of growth at Sorare, talked about how the company does business.

Sorare Web3 Game Overview

Sorare web3 game is one of the most popular and long-lasting games on the blockchain. This French game took the web3 gaming industry by storm and now has a big share of the market. Simply put, it’s a collectible trading card game with fantasy sports elements. The game came out in 2018-19 and is based on simple fantasy football rules. It also uses digital collectibles called NFTs, which are player trading cards. In the game, all you have to do is make a team of five players out of the NFT cards you have. The goal is simple: players get points based on how well they do in real games over the course of three to four days. The game has contests, tournaments, and leaderboard competitions where players can win rare cards and cryptocurrency prizes.

Sorare’s Sustainable Business Model

Putting aside how much money Sorare makes, players keep coming back because of how it’s played. Sorare is based on a real-world sport that has more than a billion fans. So, the fantasy sports part will always be there as long as there are real sports. So, Sorare’s player base is always growing. As for how this fantasy sports game makes money, it leans more towards the collectible side than the gambling side. Also, players can’t just pick the players like they do in other fantasy sports games. They have to buy them. So, the potential revenue is driven by how much money people are willing to spend to get the best players. There is also other content in the game that can be bought, so players can come back again and again to buy things.

Sorare hasn’t put everything on its in-game token like Axie Infinity or other popular games. The problem with the token is that if it goes down, players lose interest and the number of people who play goes down. In the case of Sorare, everything is about collecting cards, and all of the transactions are kept track of on Ethereum. So far, the game has kept things simple, which is why it is gaining players who don’t use cryptocurrency.

Sorare’s Gameplay and Token

Since the beginning, Sorare’s founders have made it clear that the game is for everyone, not just crypto fans. Sorare has a huge audience because it can be played by anyone interested in football, NBA, or MLB games. From the beginning, the idea was to get non-crypto users to play this Web3 game in the easiest way possible. All of the details of how web3 works and how it is integrated stay out of sight. So, as a Sorare player, you don’t need to know what crypto wallet you need to integrate, what the contract, ledger, and so on are. Sorare was able to get people who didn’t use crypto to play the game with this method. But there is a way for players to buy Sorare NFT cards in the game.

Sorare didn’t feel like he needed a token, and he didn’t see any use for a token with a monetary value in the game. The money part comes from the fact that players can trade, collect, and buy cards. The cards have different functions that players can use in different ways. Also, there is team management in the game. Players can buy a player card that costs less and sell an expensive player they think might not do well in the future. The draught season, in which players pick, choose, negotiate, buy, and sell players, is also a regular part of both real sports and Sorare. So, from a financial point of view, this way of managing a team works well. Sorare isn’t just like any other fantasy game because of this card management system. It makes the game more interesting and different.

Stay with us for part 2 of Sorare’s case study.

Discover how Sorare, the popular Web3 fantasy card game based on Ethereum, keep going during the crypto winter with its thriving in-game economy.
Discover how Sorare, the popular Web3 fantasy card game based on Ethereum, keep going during the crypto winter with its thriving in-game economy.

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Sorare: Web3 Game Winning Economics and Sustainability

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Sorare: Web3 Game Winning Economics and Sustainability

P2E News, short for “Play-to-Earn News,” is a category of updates and information within the broader spectrum of Crypto News, Web3 News, NFT News, and Blockchain News. These terms are all interconnected and represent various facets of the rapidly evolving digital landscape.

Play-to-Earn (P2E) is a gaming model that has gained immense popularity within the crypto and blockchain communities. In P2E games, players can earn cryptocurrencies or NFTs by participating in the game, often through activities like completing quests, collecting items, or trading assets. P2E News covers developments, announcements, and trends related to these innovative gaming experiences that allow players to monetize their in-game efforts.

Crypto News, on the other hand, focuses on the broader world of cryptocurrencies, including Bitcoin, Ethereum, and a multitude of altcoins. This category encompasses news about market trends, regulatory changes, new blockchain technologies, and updates related to various tokens. Crypto News is a fundamental aspect of the blockchain ecosystem, as cryptocurrencies serve as the primary means of value transfer and exchange within the Web3 space.

Web3 News is an umbrella term that refers to the next-generation internet, often characterized by decentralized applications, blockchain technology, and smart contracts. The Web3 ecosystem seeks to provide a more user-centric and decentralized internet experience. This category of news covers developments in decentralized finance (DeFi), non-fungible tokens (NFTs), and various other applications built on blockchain technology. For the ultimate and best play to earn games list, check our friends of playtoearngames.com.

NFT News focuses on Non-Fungible Tokens, unique digital assets that are indivisible and represent ownership of a specific item, artwork, or collectible. NFTs have gained prominence in the art world, gaming industry, and entertainment sector. NFT News keeps enthusiasts informed about NFT sales, new projects, and partnerships within the NFT space.

Blockchain News pertains to the foundational technology behind cryptocurrencies and Web3 applications. Blockchains are decentralized ledgers that record transactions across a network of computers, ensuring transparency and security. Updates in this category might include innovations in blockchain consensus mechanisms, interoperability between different blockchain networks, and industry applications beyond cryptocurrencies.

In summary, P2E News is a niche subset of Crypto News, Web3 News, NFT News, and Blockchain News. It focuses on gaming experiences where players can earn cryptocurrencies or NFTs, while the other categories encompass a broader range of topics within the decentralized digital landscape, including cryptocurrencies, web3 technologies, NFTs, and blockchain advancements. Collectively, these categories shape the landscape of the digital economy, offering insights into how technology is revolutionizing various aspects of our lives.