Since its initial launch in 2019, Sorare has had huge growth and has established itself as probably the leading sports NFT platform right now. It also has a lot of potential for further future growth.
I think it is very much possible to make some decent money on the Sorare platform, and I’ll cover why below.
While Sorare now has licensing for multiple sports, this article looks at the potential to profit from their soccer cards.
Can You Profit From Sorare?
Collectors can use the cards they own in weekly competitions (which score based on real life soccer performances, the same concept as a fantasy sports game) to win new cards, and cash prizes in the form of ETH – so the short answer to the initial question is that It’s definitely possible for users to make money on Sorare, in a few different ways.
Right now there are 5 different types of card for every licensed player:
- Common (no limit and cannot be traded on the secondary market – It’s the free to play version)
- Limited (up to a max of 1000 unique cards minted during a season)
- Rare (up to a max of 100 unique cards minted during a season)
- Super Rare (up to a max of 10 unique cards minted during a season)
- Unique (1 unique card minted per season)
For this article I will be focussing on rare cards (/100), because, in my opinion, that’s where you have the most opportunity to make a decent return on investment, particularly for an average investor with a moderate starting budget.
Limited cards (/1000) are the entry level cards for the platform, which you can make money with, however due to the lower value of these cards, it’s harder and takes longer to make good returns with them than it does with rare cards.
How Do You Make Money On Sorare?
Weekly SO5 Competitions - Card And ETH Rewards:
Sorare’s fantasy soccer game element comes in the form of their weekly SO5 competitions. Every week, players can submit teams consisting of 5 player cards, which they own, into the many different competitions, all with different entry requirements.
There are numerous different weekly competitions for all different card levels (limited, rare, super rare etc) and specific requirements to enter each one, such as under 23 players only, or players from certain leagues etc – Users can enter as many as they’d like, but cannot use the same card in a gameweek for multiple competitions.
Player card performance is linked to their real life soccer performance – their performance in their real life game earns them a score on Sorare. Sorare uses stats provided by Opta and their own scoring matrix to determine a player’s score for that gameweek (providing they play) which is a maximum of 100.
Every weekly competition offers the chance to win player card rewards, which obviously vary depending on what card level the competition is in, and where you finish.
If you earn a top 5 finish in one of the competitions, then you’ll win a card from a pool of the highest value cards, known as a tier 0 (A card’s tier is determined based on recent market value) – this goes down to tier 5 cards, which are the lower valued card rewards.
All limited, rare, super rare and unique card rewards that are won can be sold on the secondary market.
Winning cards regularly requires a competitive team, which means buying the better performing players, which will require a high initial investment.
In my opinion, the best and most consistent way for players to make money, without a large initial investment into player cards, is in the Cap 240 Rare competition, which requires 5 rare cards, whose combined last 15 game average Sorare score is 240 or less.
A team must consist of at least 1 goalkeeper, 1 defender, 1 midfielder and 1 attacker – The 5th spot can be an additional player from any one of the positions.
The Cap 240 competition is the only one currently that offers these ETH threshold rewards (in all card levels). To achieve the ETH threshold reward, your team of 5 players must score a combined 250 points on the Sorare game, which is very much achievable.
The value of that threshold reward is tied to the dollar – You’ll receive $50 worth of Ethereum (more for Super Rare and Unique teams, and just $5 for Limited) a few days after that gameweek has ended.
When I started Sorare, it was slightly different, and even easier to make money – I bought a rare team for around a total of $800 dollars. In my first month of playing, I won $100 worth of Ethereum, and narrowly missed out on more – But Sorare have since made it harder to win.
I’d won over 10% of my initial investment back after only 4 weeks – the cards I was using had also risen in value during that time, so I could also profit from the capital gain of those assets, on the secondary market, if I chose to sell them.
It’s like buying a dividend paying stock – the asset is the NFT (player’s digital card) itself, which changes in value depending on the market demand, and the utility of that asset earns money based on performance (like a dividend).
It proves that a ‘threshold’ team can be made with a moderate investment. It’s important to use tools like Sorare Data to research players and their previous scores (and sale prices) before putting a team together.
Secondary Market - Flipping Cards:
The other side to making money on Sorare is by flipping cards on the secondary market.
This is similar to physical sports cards, the ability to spot a good value card and flip at a higher price can earn you good profits.
There’s lots of factors to consider, but having a knowledge of Soccer is important – you need to know who’s popular and collectible but also who is likely to perform well in real life games because the SO5 competitions have a big influence on card values.
Again, using tools like Sorare Data is essential. It allows you to research the previous sale prices, weekly SO5 point scores and scarcity of a card (ie how many unique cards have been minted for a player) – All of that is critical to know if you’re planning on flipping cards.
The good thing about the secondary market right now on Sorare is that there are no selling fees, so any profit you make on a flip is all yours to keep. It remains to be seen whether there’ll be no fees forever, in my opinion Sorare will probably introduce fees at some point down the line, but right now there’s no fees.
You can also make offers on cards instead of buying for the listed prices. Sorare doesn’t currently have an in-platform chat function to speak and negotiate with sellers, but most users link their Discord, which is essential to use for negotiating and getting good buy prices on cards.
An example of a trading method I’ve used is to buy players who are currently injured in real life – they tend to drop in value because players can’t use them to score in the SO5 competitions, but once they’re back from injury and playing again, they rise in value. So buying and holding is often profitable for those players.
Can You Make Money On Sorare Without Investing Anything?
Yes, you can win cards on Sorare in the free to play common competitions which can be sold on the secondary market. However, it is worth noting that the likelihood of winning them is slim – only the top 3 in a gameweek will win a card that can be sold.
So the chance is there, but it requires a lot of luck to win anything without buying at least limited or rare cards on Sorare.
How To Withdraw Money From Sorare
So, as we know by now, Sorare uses the Ethereum cryptocurrency as its platform’s currency. Any rewards and profit from flipping cards on the platform will go into your Sorare wallet, in the form of ETH.
To withdraw funds, you can transfer the ETH from Sorare to a digital wallet, like a Coinbase wallet for example, and convert the ETH to Dollars from there.
Sorare offers this guide on how to transfer Ethereum from their platform to a digital wallet.