How to value your Sorare NFTs assets
Sorare is a global fantasy football game built on the Ethereum blockchain, where users can play with officially licensed digital cards and earn prizes every week. The project is supported by a world-class team of investors, including gaming giant Ubisoft and it is already trusted by 100+ football clubs, with many more coming every month.
With a global pandemic, the stadiums remained empty while the football season turned out to be very unpredictable. Yet, football, which the Americans know as soccer, is still the most popular sport in the world, widely enjoyed by billions of people. Besides, the fans backed their clubs and continued to support their teams from their living rooms, online and ... through Sorare. Therefore, interest around Sorare has grown significantly, gathering plenty of attention. For instance, Sorare NFTs all-time trading volume reached $84.25M, generating over 437 thousand of sales.
Table of contents
Fantasy football game concept
Sorare NFTs cards valuation process
Focus on Scarcity levels
Players' approval drives the market demand
Seeking new talents
Consider the Player’s performance
Injuries affect the value of the card
Legendary cards
Earning rewards by participating in tournaments
A simple way to get started to play Sorare
Summary
Fantasy football game concept
Sorare uses blockchain to authenticate limited-edition digital player card collectibles. Thus users own their cards and can buy, sell, or trade them. The fantasy game allows gamers to craft a lineup of five player cards, wherein players earn points based on their on field performance. It should be noted that anyone can play the game for free. When signing up, users receive five common cards to experience the game. These are off-chain assets that cannot be traded and therefore have no value. Basically, a team of five cards must be selected and registered in a league. Subsequently, teams are ranked by combining the underlying statistics of their players' cards with the real-life performance of the following football players. Those whose teams rank at the top of the leaderboard win additional rare cards or crypto-currency. Gamers are able to enter as many teams into as many leagues as they want to, though the higher the rewards are, the more high-level cards are required.
Since being launched in March 2019, Sorare has been steadily gathering users in order to slide straight to the fourth place in the category of user-ranked Ethereum dapp games. By the end of February 2021, Sorare witnessed an incredible spike in activity, recording tremendous growth in number of unique active wallets and transaction volumes generating over $11M. The most expensive NFT sales are fairly noticeable: several top star player cards such as Kylian Mbappé and Bruno Fernandes were sold on the in-game marketplace for more than $80,000.
Additionally, Sorare is constantly offering new content to the gamers - the European U21 Championship, the Copa America, the UEFA World Cup Qualifiers, CONCACAF, South America, CAF and AFC will also be available in the game, some of which already are. This is not simply an ordinary event, as it could boost the prices of players who have started to fall in the rankings during the end of the European Championships.
Sorare NFTs cards valuation process
As mentioned above, users can find player cards, based on real players and the teams they play for, and each player card has its own value. The value of Sorare cards can be very various as each card features certain attributes, such as rarity, player awareness, player age, player potential and card utility. The external factors such as injuries also have an impact on the value.
Focus on Scarcity levels
A Sorare Card is an officially licensed digital collectible of a footballer for a particular football season. For the 2020-21 season, three levels of scarcity exist for each Sorare Card: Unique, Super Rare (10 copies) and Rare (100 copies). Plus, there is an unlimited number of common cards, but these are not tradeable and therefore have no value.
According to the Sorare marketplace, the average price of rare cards is about 40 dollars, while the price of super rare cards starts from 260 dollars. Unique cards have a floor price of $4,400, which is 17 times more than rare cards. However, scarcity is not the only key factor involved in valuing the card as the players themselves are crucial in the overall value of the card.
Players' approval drives the market demand
Player popularity plays an important role in determining the price of Sorare digital collectibles such as the most performing football players are worth a lot. So far, Robert Lewandowski, Griezmann, Mbappé, Neymar and Cristiano Ronaldo are the biggest soccer superstars having lots of fans, which reflects in the price of their cards. Thus, Kylian Mbappé cards are leading the sales, being the most valuable cards on Sorare - a super rare card of his was recently sold for $ 88,182.16, and a rare Mbappé for $ 73,662.76. Most recently, Antoine Griezmann’s unique card was sold for $ 110,816.76
Seeking new talents
The age of the player is an important element that can be taken into account as part of the investment strategy. The age in perspective represents an interest as young players in this game have a huge potential. Some collectors and gamers are looking for football talent between the ages of 16 and 18, as these cards could become valuable rookie cards in the future. Thus creating a lot of speculation. Though some of these players may not be playing regularly at the moment, they could perform well in the future and therefore become very valuable. In contrast, the older players may not hold the same value in the years to come except for the world-class players who might retain their value in the future as collectibles.
Consider the Player’s performance
No surprise, it is worth keeping an eye on the statistics of the player's performance for their respective teams, and more generally on the recent transfers of players and any other relevant statistics concerning the football teams. New contracts, most recent performances on the pitch, loan periods impact the player's profile and therefore the value of their cards. Having a keen eye on football should be a fairly logical and consistent routine.
Injuries affect the value of the card
As real-world events may affect Sorare collectibles value therefore injuries also play an important role in pricing cards. Indeed, players who are injured cannot play and therefore serve no purpose in the fantasy football game. The effect on the price depends on the severity of the injury - serious injuries can have a major effect on card pricing. As an example, Philippe Sandler's knee surgery with unplanned recovery time had a significant negative effect on the value of his Sorare rare card.
Legendary cards
Some of the player cards have no utility on the platform but pure collectible purpose. It is about collecting and owning legendary cards. For instance, there are coach cards of Zinedine Zidane and Diego Maradona. This makes Sorare more than just a fantasy football game, as it is also about sports history and passion.
In addition, the platform has released specially designed player of the year cards. There are also the David Beckham legend cards, Special Weekly rewards, and Early Ambassador cards. As long as the player is still active, these cards function the same way as other cards. However, they provide an additional degree of collectibility, and consequently of value. Another nice feature is the presence of a variety of special designer cards. Some football players receive a special signed player card.
Earning rewards by participating in tournaments
For tournaments to take place, there needs to be football games scheduled in real-life, these are called tournaments. There are common, rare, super rare, and unique card tournaments and the rewards increase by scarcity level. In order to participate in a tournament, users need specific cards with a certain rarity. In order to be eligible for the prize, at least 5 cards should be collected
Sorare provides Global and Regional League structures for football fans all over the world. Each league has four divisions (D4,D3,D2,D1) with different card eligibility requirements. The lowest division only allows rare and super rare cards. The higher the division, the more super rare or even unique cards are required. The prizes - amount of Ethers and / or Cards- for every Game Week and every division are announced in the “Play" section of the website under Prize Pool, tournaments for super rare cards can offer prizes up to $1,800. Moreover, there are tournaments for different types of players, such as for players from European teams, or American and Asian teams. In order to compete in these tournaments, users must have the following players.
Most recently, Sorare has announced a licensing agreement with the France Football Federation to release national team digital collectible cards. National Team cards have the exact same utility as the club version. In a press release, the company states "Following its licensing agreement with the French Football Federation, the company’s ambition is to onboard all the football associations in the world".
A simple way to get started to play Sorare
There are several things to do to get started playing at Sorare. After signing up, you will get your free cards. There are many types of free cards that you can get on Sorare. However, these are common cards, which means that they cannot be sold. Sorare offers an interesting referral link system. By using the referral link, users can apply for a free rare card as a sign-up bonus.
Once you have successfully signed up, you will be taken through the simple Sorare onboarding process:
Choose a club name and logo
Select your preferred clubs (your free players will be chosen from these clubs).
Join your first league
Build your team
Follow a player you like
Bid on a rare card
After completing the onboarding process, you will be able to enter a tournament. Before entering a tournament, it is important to know which division your players are best suited to play in. Each of the above tournaments has 4 divisions that you can enter. By collecting super rares and unique cards, you can move up the divisions.
Once finished, you can start receiving rewards. The rewards you can earn on Sorare are different for each tournament you participate in.
Summary
Sorare is experiencing strong growth in terms of transaction volumes and unique active wallets. Over the last 7 days, the transaction volume reached £2.09M, representing an increase of 33.85%. These movements suggest that the dapp could see even more growth in the future. Sorare cards could still be very undervalued and when Sorare gets adopted by the masses or joint ventures with the world's leading football giants like FIFI or UEFA, the demand could significantly increase the value of the cards.
For Football fans, Sorare represents a promising value investment that combines both a passion for the sport and the potential as a source of income. However, in order to become a Sorare expert, it is important to follow the real-word activity to stay up to date with the latest news and to be constantly aware of the newest football events. In other words, for those wishing to dive into the Sorare universe, the understanding of the football environment is essential. With the constant addition of Country Subsidiaries and Championships, Sorare will be definitely riding the upcoming NFT wave.