Sorare, the global sports entertainment company, has partnered with Mangopay, the platform-specific payment infrastructure provider, to launch Cash Wallet, a new feature which allows Sorare’s 5 million registered users or “Managers” to make payments using real-world (or ‘fiat’) currencies such as the US Dollar (USD), Euro (EUR), and British Pound Sterling (GBP), a major milestone for both Sorare and the wider Web3 industry. Starting early August, Cash Wallet will be available to all Sorare Managers as part of the Sorare Wallet System. 

Sorare started at the intersection of collectibles and fantasy sports, with the innovative proposition of digital card ownership made possible by Web3. It brings unique benefits to users: monetization of digital cards, ability to play them across seasons and games, provable scarcity, and authenticity. Sorare has experienced rapid growth since its launch in 2018, partnering with many of the world’s biggest leagues and teams including the Premier League, MLB, MLS, and NBA, and attracting sporting icons such as Lionel Messi, Serena Williams and Zinedine Zidane as investors, ambassadors and advisors. 

However, since launching, Sorare has been working to build a seamless experience where millions of sports fans can enjoy the benefits of Sorare digital cards without experiencing the frictions commonly experienced by consumers who are new to Web3.

By partnering with Mangopay to introduce fiat currency, Sorare Cash Wallet eliminates one of the main barriers to entry and makes it easier than ever for existing and new Managers to experience its fantasy sports game and marketplace. The innovative and intuitive solution will allow Managers to securely connect their bank account to Sorare, store credit card details, and deposit money directly in their Cash Wallet to buy and sell cards using widely accepted currencies like the US Dollar, Euro or British Pound Sterling. This feature will be powered by Mangopay, a payment infrastructure provider for platforms & marketplaces.

The launch of the new feature is the latest step in Sorare’s long-term strategy to grow its user base, create the largest sports community in the world, and build the next global sports entertainment giant. The rollout of Cash Wallet comes ahead of the start of the European football season, the 2023 MLB Postseason, and Season 2 of Sorare: NBA.

Commenting on the launch, Nicolas Julia, CEO and co-founder at Sorare, said: “Sorare is built using blockchain technology because we believe it can deliver unique benefits to sports fans and fantasy gamers in the form of proven authenticity, scarcity, and portability. However, new technologies must be accessible to all if they are to fulfill their potential. 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.”

Romain Mazeries, CEO at Mangopay, said: “As a frontrunner in the payment infrastructure industry, we are committed to shaping the next era of payments. Our collaboration with Sorare underscores this dedication. Sorare, an industry leader in the sports, collectibles, and gaming domains, boasts an impressive growth trajectory with over 5 million registered users. Partnering with them not only fortifies our strategic position but also paves the way for joint advancements in payment solutions, enhancing accessibility to their innovative blockchain platform".

The Cash Wallet feature, powered by Mangopay, will be available to all Sorare Managers from early August.