TBW Awards 2024: Sorare voted best entertainment application

Wednesday, February 21, 2024

Despite the decline in the NFT market, the digital sports card game continues to expand and is delighted to have acquired a specific regulatory framework in France.

Awarded the title of the most substantial fundraising in French technology history, Sorare suffered the bear market of 2022-2023 like the rest of the sector, but the company co-founded by Nicolas Julia is on track to achieve one of the goals it had set itself: to position itself as an entertainment brand rather than just a technology company.

By the end of 2023, the company had 3 million registered users, over 70,000 of whom were participating in paid activities.

Sorare is now working to reduce its reliance on cryptocurrencies by making it easier to access its game. Since August 2023, it has been possible to purchase digital cards using a bank card. This change seeks to attract a wider audience, beyond cryptocurrency enthusiasts. To consolidate its presence in the sports and gaming sector, Sorare must continue to innovate and appeal to a more diverse audience, beyond blockchain enthusiasts.

"Our ambition remains fully alive, stronger than ever: we aspire to become the global leader in entertainment by offering all sports fans the opportunity to own a team and perform all the actions that a team owner can undertake in the real world," stated Nicolas Julia in The Big Whale at the end of December. "This includes buying and selling players, developing his club, winning trophies and obtaining awards", he added.

Last but not least, Sorare has obtained regulatory clarification in France, its NFTs will not be considered as gambling games but will fall under the much more flexible framework of Games with Monetisable Digital Objects (Jonum). This victory allows it to continue its activities with complete peace of mind.

Among the other nominees in the category: Cross The Ages, Friend Tech, Lens, Stables.

The election took place in part with the participation of The Big Whale community but without any intervention from the team. Find out how to vote.

This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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