Crypto gaming is a major player in the NFT market, which is projected to reach a value of $1.3 billion by the end of 2021. NFT gaming adopts a play-to-earn approach as a one-of-a-kind intersection of digital entertainment and finance. Crypto games such as the fantasy football game, Sorare, enable users to win prizes in the form of NFTs and cryptocurrency. The opportunity to earn currency, however, does not take away from the fun of digital gaming and interacting with online communities.
Let’s take a look at the basics of what NFT gaming entails, how Sorare works and what the SOR token is.
What is NFT gaming?
NFT gaming combines video games and crypto trading by using non-fungible tokens (NFTs) that are based on blockchain networks like Ethereum and Binance Smart Chain. NFTs are unique digital assets that can represent any digital items such as artworks, images, videos, gifs and music files. NFTs are quickly growing in popularity as an innovative solution for buying and purchasing digital assets that are stored on the blockchain under high-level security protocols. The digital certificate of ownership that accompanies each NFT makes it easy to prove ownership and protect assets since NFTs cannot be duplicated or deleted.
NFT gaming includes a broad range of popular online games, from card and casino games to action and adventure games. Sports games have also earned their rightful place in the crypto gaming world, with Sorare leading the way as the largest sports-based NFT gaming platform by sales volume with a value of $4.3 billion. Sorare currently has partnerships with more than 200 officially licensed football clubs worldwide and has spoken about its plans to integrate other sports into the platform in the future.
What is the SOR token?
Sorare uses the novel SOR token as digital collectibles that can be traded on the platform. The SOR token enables users on Sorare to purchase and collect limited edition cards that represent their favourite real-life football players in each season. SOR token NFTs can be freely traded across the Sorare platform as well as compatible Ethereum applications. Because Sorare offers unique digital assets that are released in limited quantities, the platform uses the Ethereum ERC-721 standard as opposed to the ERC-20 token standard, which is used by other fungible cryptocurrencies that operate on the Ethereum blockchain.
Is the SOR token a good investment?
The potential to earn cryptocurrency in NFT games is what sets them apart from other digital gaming platforms. Although NFT games present valuable opportunities to make crypto earnings, it is important to make the distinction between playing for the sole purpose of winning prizes and playing with the added bonus of winning prizes. The benefit of NFT games is that users have control over how much funds they want to invest in the game in order to make more earnings. Investment and earning opportunities can therefore be managed according to each player’s preferences.
In a game like Sorare, gaming performance is closely related to what is happening in the real-time football world. This means that users need to stay up to date with real-life football news to set themselves up for in-game success. Sorare participants can use each SOR token to earn passive cryptocurrency income. Additionally, the platform offers two ways to earn ether (ETH): firstly by buying and selling player cards at a profit on the open marketplace, and secondly by dominating in the weekly tournaments.
Engaging a third-party Sorare app can help users improve their gaming performance and increase their chances of earning cryptocurrency. SorareSharp offers a range of valuable tools to help users navigate the marketplace, acquire the best player cards and achieve better results during tournaments. With features like price alarms, auction reminders, player news updates and projected team lineups, the app provides users with a competitive advantage in tournaments and trades.
How can I earn ETH on Sorare?
Sorare participants can buy and sell NFT player cards on the open marketplace. The seller can set their desired price and place it on the market. If a card remains unsold after 48 hours, it will expire from the marketplace and the seller will be given the option to readjust the price. The value of each NFT card is determined by factors like rarity and player performance. Player cards are released in limited quantities in four different categories of rarity each season. Rarity drives demand, which influences the potential resell value from a longer-term investment perspective.
Sorare participants can also earn ETH in-game by composing team lineups for entry in the weekly tournaments. Sorare offers a host of different leagues, each with its own entry requirements. To participate in tournaments, users must hold at least five collectable cards. Prizes in the form of ETH and NFT player cards are up for grabs for the teams that finish with the most points or end up in the top three spots, depending on the tournament requirements. Cryptocurrency earnings from tournaments are automatically transferred to the winners’ wallets.
SorareSharp is a leading mobile app for crypto fantasy football managers on Sorare. With auction alarms, player news and projected lineups, SorareSharp helps players achieve better trading results while saving time and easily tracking profits. The app is available for download on Google Play and App Store.