Nicolas Julia, CEO of the Fantasy Sports Crypto Platform Sorare, said he had not lost faith in Ethereum despite his plan to move to Solana – a step he described as a “upgrade.”
On Thursday, Sorare announced This has moved from Ethereum six years later, capitalizing on Solana’s scalability and consumer-focused user. The company will move more than 10 sporting games and their trading cards to Solana.
“It’s not a replacement, it’s an upgrade,” Sorare said at that time. Julia later explained to Cointelegraph that Solana is the most vibrant chain because it leads the fantasy of sports crypto to be up to revenue, sunny active address, active developer and total amount locked. And that, while it is more centralized than the Ethereum, the blockchain prioritizes scalability and security.
“(Solana’s) the growing adoption shows that this stake is right,” said Julia, noting that it covers a lot of soil in Ethereum, which launched it five years later.
The transition is expected to be complete by the end of this month.
Despite the move, Julia said Sorare said they did not lose confidence in the Ethereum ecosystem.
“We remain very Bullish here,” Julia said, noting that it would continue to support Ethereum users through a base network integration and that it would still allow Ether (Eth) Deposits.
Sorare, who got 5 million users and costs $ 4.3 billion In October 2021, one of the many protocols of blue-chip protocols that made poor calls to move from the chain they launched to continue to grow.
Decentralized exchange Aggregator 1inch and Crypto Indexing Protocol The graph is two other known crypto applications that have moved from Ethereum to Solana in recent years.
Sorare is a fantasy platform that is mainly focused on football, but also features basketball and baseball, where users buy, sell, and officially officially licensed digital player card Tokens. They can create teams with these cards and compete in the weekly contest, earn rewards based on the performance of the real world world.
Sports tokens caught behind this bull cycle
Other competitors in space include flow, Chilealz And the NBA’s back-up shots. DRAFTKINGS Marketplace is well -known —It is also known before it I -shut down in July 2024.
The market cap for Crypto sports tokens Currently sitting at $ 1.17 billion, a big fall from the 2021-2021 Bull Cycle, Coingecko Data Shut up.
The Sorare NFT also struggles amid the broader NFT market collapse, with their floor price drop from a peak of $ 91.25 in early April 2022 to $ 2.21 to October 12, Dappradar Data Shut up.
The sun -sales of the Sorare NFT remained steadfast, with anywhere between 5,000 and 30,000 sales in most days -a similar level to seen in 2022.
Sorare to adopt a multichein approach
Despite the move, Julia says she is considering another High -speed chain This will help with the Sorare trading card trading cards as much as possible.
“We consider many options and continue to guard the evolution of high-performance ecosystems such as Sui and Aptos, while remains confident in Solana’s trajectory today.”
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It also combines Layer0 to operate market payments seamlessly throughout Solana and base as part of its plan to be chain-bagagnostic and the strengths of many ecosystems.
Sorare is not concerned with Solana’s network outages
Julia said she was not very concerned about Sorare who was victimized by a Solana Network Outage, It has been noted that in recent years, his team has been “trained to work through the inevitable darkness with the blockchain infrastructure.”
“We are more than the quality of Solana’s technology, the team behind it, and the recent track record of the stability network,” Julia said.
He noted that network outages have been Not much often Over time and meet quickly, showing the ability of Solana’s ecosystem to improve at “amazing -spectacles.”
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