Sorare is a fantasy football platform developed by Nicolas Julia and Adrien Montfort in 2018. The platform enables players to buy, sell, trade, and manage a virtual team using digital player cards on the Ethereum blockchain.
Sorare makes money by the issuance and sale of new NFT playing cards on its platform, with auction prices starting at around 0.004 ETH. The final price an NFT sells for is determined by the scarcity of the card and the player featured on the card.
Sorare increases revenue and profit potential by minting new NFTs on Starknet, where transactions are bundled to reduce the cost per minted card.
Business Model Element
Analysis
Implications
Examples
Value Proposition
Sorare’s value proposition includes: – Unique Digital Collectibles: Offering officially licensed digital football player cards from real-world football leagues. – Fantasy Football: Allowing users to create and manage their virtual football teams using these cards. – Global Community: Building a global community of football fans and collectors. Sorare appeals to football enthusiasts and collectors by combining blockchain technology with the excitement of fantasy football.
Attracts football fans and collectors with unique digital collectibles. Engages users with the opportunity to participate in fantasy football using their cards. Fosters a global community of like-minded individuals passionate about football. Provides a novel and exciting value proposition in the sports and blockchain space.
– Officially licensed digital football player cards. – Fantasy football gameplay using digital collectibles. – A global community of football enthusiasts and collectors.
Customer Segments
Sorare serves the following customer segments: 1. Football Fans: Individuals passionate about football and fantasy sports. 2. Collectors: Users interested in collecting digital football player cards. 3. Gamers: Individuals who enjoy fantasy football gameplay. Sorare connects football fans, collectors, and gamers within its platform.
Attracts football fans and collectors interested in digital cards. Engages gamers who enjoy fantasy football competitions. Focuses on key customer segments to build a thriving community. Connects users with a shared passion for football.
– Football fans participating in fantasy football. – Collectors interested in digital football player cards. – Gamers enjoying fantasy football gameplay.
Distribution Strategy
Sorare’s distribution strategy includes: – Online Platform: Operating a web-based platform accessible to users worldwide. – Mobile App: Providing a mobile application for convenient access and gameplay. – Partnerships: Collaborating with football clubs and leagues to license player cards. – Digital Wallets: Integrating with blockchain wallets for secure card storage. Sorare ensures accessibility, mobile convenience, and partnerships to expand its user base.
Provides accessibility through a web-based platform and mobile app. Expands reach through collaborations with football clubs and leagues. Ensures secure card storage through integration with blockchain wallets. Implements a multi-channel distribution strategy for a global user base.
– Web-based platform for card collection and gameplay. – Mobile application for on-the-go access. – Collaborations with football clubs and leagues for licensing. – Integration with blockchain wallets for secure storage.
Revenue Streams
Sorare generates revenue through the following streams: 1. Card Sales: Earnings from selling officially licensed digital football player cards to users. 2. Trading Fees: Collecting fees when users trade cards on the platform’s marketplace. 3. Gameplay Fees: Charging users for participating in fantasy football competitions. 4. Licensing Partnerships: Earning revenue through collaborations with football clubs and leagues. Sorare’s primary revenue sources are card sales and trading fees.
Earns income from card sales to collectors and enthusiasts. Collects fees from card trading activities on the marketplace. Generates revenue through gameplay fees from users participating in fantasy football. Establishes partnerships with football clubs and leagues for additional income. Diversifies revenue streams within the fantasy football and collectibles space. Ensures financial sustainability through multiple income sources.
– Earnings from selling officially licensed digital football player cards. – Fees collected from card trading activities on the platform. – Revenue from gameplay fees charged to users. – Income generated through licensing partnerships with football entities.
Marketing Strategy
Sorare’s marketing strategy involves: – Digital Advertising: Running online advertising campaigns to promote its platform and card offerings. – Partnerships: Collaborating with football clubs, leagues, and players for mutual promotion. – Tournaments and Prizes: Organizing football-related tournaments and offering prizes to participants. – Community Engagement: Fostering a strong and engaged community of football enthusiasts and collectors. Sorare focuses on digital advertising, partnerships, tournaments, and community engagement to attract and retain users.
Increases brand visibility through online advertising campaigns. Collaborates with football entities for mutual promotion and legitimacy. Attracts users with football-related tournaments and prizes. Builds a vibrant community of football enthusiasts and collectors. Implements a comprehensive marketing strategy for user acquisition and engagement.
– Online advertising campaigns for brand visibility. – Collaborations with football clubs, leagues, and players. – Football-related tournaments and prizes to attract users. – Active community engagement to build a vibrant user base.
Organization Structure
Sorare’s organizational structure includes: – Executive Leadership: Responsible for strategic direction and decision-making. – Technology and Development Teams: Overseeing software development, blockchain integration, and platform maintenance. – Customer Support: Providing assistance to users and addressing their inquiries and concerns. – Marketing and Partnerships: Promoting Sorare’s services and collaborating with football entities. Sorare maintains a structured approach to efficiently deliver its services and support its user base.
Led by executive leadership for strategic direction and growth. Employs teams dedicated to software development and blockchain integration. Focuses on customer support to ensure user satisfaction. Promotes services and collaborates with football entities for brand visibility. Maintains an organized structure for efficient operation.
– Led by executive leadership for strategic direction and growth. – Teams responsible for software development, blockchain integration, and platform maintenance. – Focus on customer support to ensure user satisfaction. – Marketing and partnerships for service promotion and engagement. – Organized structure for efficient operation and ecosystem growth.
Competitive Advantage
Sorare’s competitive advantage stems from: – Official Licensing: Holding official licenses with football clubs and leagues, providing legitimacy and access to real-world player data. – Blockchain Technology: Utilizing blockchain technology for the secure ownership and trading of digital cards. – Unique Collectibles: Offering unique officially licensed digital football player cards, differentiating from traditional collectibles. – Engaged Community: Building an engaged and passionate community of football fans and collectors. Sorare’s strengths in licensing, blockchain, unique collectibles, and community engagement give it a strong position in the fantasy football and collectibles market.
Distinguishes itself with official licenses and access to real-world player data. Ensures secure ownership and trading of digital cards through blockchain technology. Provides unique collectibles that stand out in the market. Builds an engaged community of passionate football fans and collectors. Enjoys a competitive edge in the fantasy football and collectibles industry.
– Official licenses with football clubs and leagues. – Utilization of blockchain technology for secure card ownership. – Offering unique and officially licensed digital football player cards. – Building an engaged and passionate community of football fans and collectors. – A competitive edge in the fantasy football and collectibles market.
Table of Contents
Origin story
Sorare is a fantasy football platform developed by Nicolas Julia and Adrien Montfort in 2018.
The platform enables players to buy, sell, trade, and manage a virtual team using digital player cards on the Ethereum blockchain.
In late 2017, Julia and Montfort discovered NFTs which enabled the creation of scarce digital items.
The allure of NFTs struck a very personal chord with Julia, who noted that:
“We as human beings have been collecting things for centuries in the physical space. With NFTs, there is now the possibility of collecting something digital.”
Sorare is a fantasy football game where NFT collectibles are based on real-world football players and clubs.
Securing licensing deals with these clubs was a boon for the co-founders, especially when one considers that Sorare was an unproven start-up operating in an industry shrouded in misconception and complexity.
To play the game, participants need to own NFT cards which range in abundance from limited to rare, super rare, and unique.
These cards are acquired via packs sold by the company or on a secondary marketplace by owners who auction them off.
The ability to use NFT collectibles in a competitive environment is what differentiates Sorare from similar platforms.
Users can join a variety of different leagues, including those designed for rookie players or region-focused tournaments.
On game day, the user assembles a team of five with points awarded based on the real-world performance of each player.
The team that receives the most points is the winner and may themselves be awarded with Ether or rare cards.
Sorare makes money by the issuance and sale of new NFT playing cards on its platform.
While the cost of minting new NFTs for thousands of players might be considered prohibitive, Sorare runs on the Ethereum L2 network Starknet.
This allows the company to bundle many transactions together and reduce the cost per minted card.
Playing cards can be purchased in a few different ways:
New signings – where cards have been minted by Sorare and listed for sale without any previous owners. These cards are sold in an auction system, with prices starting at around 0.004 ETH or approximately $16. How much the company makes from minting new NFTs is determined by their scarcity and to a lesser extent, the player who is featured on the card.
Transfer market – where players purchase from other players on a secondary NFT marketplace. At the time of writing, Sorare does not make any money in this space. The company even covers the gas fee and, in some cases, has reduced the fee to zero to improve the user experience.
Direct offers – new cards can also be acquired by approaching other players directly and making sending them an offer on one of their team members. Sorare does not yet have plans to charge a fee for facilitating this transaction.
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Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
