I've recently joined sorare.com and purchased my first few rare cards and Im going to say a few things about the experience.
First of all let's start off by saying it's extremely fun and entertaining and I've never been this hyped up about auctions ever.
Sorare.com is split into a few concepts that's bring it all together.
So let's talk about the cardanomics first and what drives the rareness. Every club/football player that signs up on sorare.com can only have a total of 111 cards minted for them with 100 being rare, 10 being super rare and 1 being unique which essentially the ones that are extremely pricey.
They have two markets. A market for cards where new sign ups get listed via an auction and they have the secondary market where users can list there players for sale. I've heard alot of buzz about sorare.com and I'm sure you have too. Everyones talking about howmuch these cards are being sold for.
I enjoy the platform very much and participate very much in the markets bidding throughout the day on a variety of cards and I've noticed something on the platform that I'd like other users to shed light on.
I believe all the hype and buzz is for the auctions happening when these players get listed for the first time. The bidding is crazy and securing a known player that you believe holds value can be tough if you not willing to pay mad prices.
The secondary market is somewhat a other play ground. Granted sales probably do occur here but hardly any in my opinion. All the sales is happening on the new signing market and I believe the secondary market should also have the option to auction there cards. It only has the option to sell or make an offer. It's way more boring and doesn't have the same hype so I'm sure it's not making as much sales.
Sorare.com is on the right track but right now it seems like all the funds are peddling through to them right now and any other value that can be created on the secondary market is limited because there's no option to auction your cards. Only sell or direct offer. Also the prices on the secondary market is much higher so if you figure out the platform you'll rather wait for new cards to be minted. Buy the valuable ones then possibly trade it for the ones you want.
Something needs to be done in the secondary marketing if they want to keep users involved. It will be nice to see sales made by other managers and history of what cards were sold for etc. Right now you don't see any of that. I literally have to use fifa 21 to get a rating for all these players I never heard of.
Lastly you need more premier league teams if you want mass adoption. No premier league. No mass adoption.
So if you just read what I said now and you had plans on joining you can most definitely do so but do take in to account that the secondary market where you need to sell your cards is not as close to as popping as the new signings. If you playing it for fantasy league aspect of it that host tournaments you can join even more reason not to buy in the secondary market.
They are fairly in there infant stages so I hope they fix all of this. It's vital to the success of the platform. We need a better view of what's happening on the site in terms of sales and what's going for what. Otherwise we all just list a card for a random price and we keep it there even though you check the cost they paid for it. It might be much less. Cards do generate some value for playing it week on week but even those stats are not in your face so it's rarely considered
That's just my thoughts on the experience thus far. Let me know what you guys think in the comments below
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