Sorare CEO still bullish on Ethereum despite ‘upgrading’ to Solana
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Nicolas Julia, CEO of Sorare, announced the company's plan to migrate its fantasy sports platform from Ethereum to Solana, calling this shift an "upgrade." Despite the move, Julia remains bullish on Ethereum, stating Sorare will continue supporting Ethereum users via the Base network. The migration aims to leverage Solana’s scalability, user base, and developer activity, with completion expected by the end of the month.
Why it matters
The report highlights the strategic shifts by major crypto platforms like Sorare toward scalable chains like Solana to sustain growth. It underscores how blue-chip projects balance migration with continued support for established ecosystems, potentially influencing multi-chain adoption trends. The source does not explicitly elaborate on broader market or policy impacts.
Key context
Sorare is a fantasy sports NFT platform with 5 million users, primarily focused on football, where users trade digital player cards. The platform’s NFTs have experienced a steep price decline alongside the broader NFT market downturn. Sorare plans a chain-agnostic approach integrating Layer0 to facilitate marketplace payments across Solana and Base. Other crypto projects such as 1inch and The Graph have similarly migrated from Ethereum to Solana.
Key numbers and entities
Sorare was valued at $4.3 billion in October 2021 and has 5 million users. Sorare NFT floor prices dropped from $91.25 in April 2022 to $2.21 as of October 12. The sports crypto token market cap is $1.17 billion according to CoinGecko. Entities mentioned include Sorare, Ethereum, Solana, Base network, 1inch, The Graph, Flow, Chiliz, NBA Top Shot, DraftKings Marketplace, Layer0, Sui, and Aptos.
What remains unclear
The source does not specify the technical details or timelines of the migration process. It also does not clarify how the dual support for Ethereum and Solana will work operationally or how users might be affected. Details on the impact of Solana’s network outages on Sorare’s service remain general, without specific risk assessments.