NFT REVIEW NEWS Sorare Debuts ‘Cash Wallet’ for Fantasy Sports Fans

With over five million registered users, blockchain sports company Sorare just made it easier for sports fans to build their fantasy teams and collections using fiat currencies in a new partnership with the B2B fashion wholesale marketplace Mangopay. Cash Wallet, which launches in early August, allows Sorare users to make payments in fiat, including dollars, the euro, and the British pound sterling, as initially reported by GamesBeat

Sorare, which first launched in 2018, has established itself as a next-gen sports platform, combining fantasy sports with digital collectibles and allowing for its users to own their own cards within Sorare’s games ecosystem, which spans soccer, baseball, and basketball titles.

The world’s biggest leagues

By allowing players to monetize their digital cards and play them across seasons and games, the gaming platform has been able to leverage partnerships with some of the world’s biggest leagues and teams, including the MLS, the Premier League, MLB, and the NBA, as well as seeing athletes like Lionel Messi, Serena Williams, and Zinedine Zidane come on as investors, ambassadors, and advisers. 

The collaboration with Mangopay is seen as a step in broadening Sorare’s reach. By removing the crypto barrier of entry, the platform aims to make its fantasy sports games and marketplace more accessible to both existing users and newcomers who are still hesitant on stepping into Web3 digital assets landscape. 

Nicolas Julia, Sorare’s CEO, emphasized the company’s commitment to leveraging blockchain technology’s unique advantages, such as ensuring authenticity, scarcity, and portability for its digital assets. 

“New technologies must be accessible to all if they are to fulfill their potential,” Julia said in a statement. “The launch of Cash Wallet is key to our goal of making Sorare as simple and user-friendly as possible for all sports fans and we are thrilled that we can now enable ‘Managers’ to build their teams and collections using real-world (or fiat) currencies for the very first time.”

Shaping payment solutions

Mangopay CEO Romain Mazeries stated their commitment to helping shape the next era of payments, describing its marketplace as a “frontrunner in the payment infrastructure industry.” As a new payments solution, Cash Wallet will allow players to link their bank accounts to Sorare, with the option of saving their credit card information and directly depositing funds into their Cash Wallet for buying and selling digital sports trading cards.

In a recent tweet, Sorare stated that Cash Wallet will begin its progressive rollout on August 2 for all Managers, with USD credit and debit card deposit and payments to enabled in September. 

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