Sorare teams with Mangopay to launch Cash Wallet for real-world currency transactions

Sorare, the blockchain sports game company, has partnered with Mangopay to launch Cash Wallet, which lets fans make purchases in real-world (fiat) currencies.

Sorare’s five million registered users normally pay in cryptocurrencies. With Cash Wallet, they will be able to make payments in fiat currencies such as the U.S. dollar, the euro, and the British pound sterling.

For Sorare and the wider Web3 industry, this eliminates one of the main barriers to entry and makes it easier than ever for existing and new players to experience its fantasy sports games and marketplace.

“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,” said Nicolas Julia, CEO of Sorare, in a statement. “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.”

Sorare started at the intersection of collectibles and fantasy sports, with the proposition of digital card ownership made possible by Web3 so players can own their own cards in Sorare’s games such as soccer, baseball and basketball. It lets players monetize their digital cards and play them across seasons and games. The blockchain verifies the authenticity and scarcity of the cards.

“As a frontrunner in the payment infrastructure industry, we are committed to shaping the next era of payments,” said Mangopay CEO Romain Mazeries, in a statement. “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.”

Sorare has seen 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 advisers.

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.

Players can securely connect their bank account to Sorare, store credit card details, and deposit money directly in their Cash Wallet to buy and sell cards.

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.

The Cash Wallet feature will be available to all Sorare Managers from early August.

Originally appeared on: TheSpuzz