They also request advances in these royalties - which partly explains why Sorare did massive funding rounds. Clubs and leagues will earn royalties (estimated between 10-20% for primary sales and between 1-2% for secondary sales). In an ideal world, Sorare would strike multi-year contracts with clubs and leagues to build a barrier to entry for new entrants. Sorare does not disclose a lot of information on these agreements. Bundesliga, Liga, etc.) to be able to exploit their rights (club logo, football jerseys, pictures of players). Sorare’s model is based on 3 key pillars:Ĭlubs : Sorare is signing licensing deals with soccer clubs (e.g. Nowhere during the onboarding process will you be told about blockchain, payments to play the game, how to scout players, the open ecosystem, etc. Having done 100+ consumer app onboardings for AppFuel, I believe that Sorare combines several ingredients of a great onboarding:įavoring explanation over speed : Sorare does not optimize its onboarding process to reduce the number of steps, but to educate and hook users on the platforms.īalancing friction and rewards : in total you get 11 free common cards during the Sorare’s onboarding but you have 4 different moments in the onboarding at which you are granted cards.Įducating users : at the end of the onboarding, you have understood the key elements of Sorare (a club, a card, a league) and you have already submitted a team to participate in your 1st game.Ībstracting complexities : Sorare does not give all the details about the depth of its experience. Tutorial to create your own team and participate in your 1st gameĪt the end of the onboarding, you have a good understanding of how to play Sorare, you have 11 free cards with players from your favorite clubs and… you have never heard of crypto or NFTs. We’ll break down the product into 3 key components: the onboarding, the acquisition of your first cards and the fantasy soccer game. Moreover, players can reuse their cards into other experiences not powered by Sorare. Portability : players can decide to sell their cards to anyone inside or outside the Sorare ecosystem. A centralized entity cannot delete it or modify its attributes. Ownership : when you purchase a NFT, you will own it for as long as you want. Scarcity : for the 1st time in history, digital items can be unique. You can prove your ownership with certificates recorded on the blockchain which is accessible to anyone. Sorare’s cards have different attributes (representing a player, a club, a season, and a degree of scarcity) and a unique identifier. Unique: each NFT has unique characteristics. Ĭards are represented by NFTs which give them specific attributes: Players will purchase NFTs trading card games which represent soccer players and they will use them on a bi-weekly basis into a fantasy football game. Sorare combines in a single product soccer, non-fungible tokens (NFTs) and fantasy gaming. Part III - What will Sorare look like in 5 years? Building the next global entertainment giant from Paris Part II - What are the key success factors behind Sorare’s success? Part 1 - What is Sorare? Digging into its product, model, history and traction In this post, we will cover the following sections: With Justin, we tried to write a comprehensive deep dive on Sorare to give the company the coverage depth it deserves. It’s a profitable company that has also spent most of the year with less than 20 employees. In 2021, it will generate €200m in transaction volumes and €100m in net revenues. Sorare is also a commercial success with 500k active users, 50k paying users (bought at least one card) and 200+ licensed clubs. It has created a unique category that has uncapped potential and Sorare has the potential of becoming a global entertainment giant. Sorare commercialises a weird product combining in a single experience soccer, NFTs and fantasy gaming. It’s also the fastest startup to reach a unicorn valuation in France - in less than 3 years. It’s the largest funding round ever raised in the French tech ecosystem. In September 2021, it raised a massive $680m series B led by Softbank at a $4.3bn valuation.
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