Sorare CEO Hypes Ethereum Despite Upgrading to Solana
Sorare, a fantasy sports crypto platform, will migrate from Ethereum to Solana after six years to take advantage of Solana’s scalability and consumer-oriented user base. Over 10 sports games and their trading cards will move to Solana, which leads in fantasy sports crypto metrics such as revenue and daily active addresses despite being more centralized than Ethereum. The migration is expected to finish by the end of the month, but Sorare will continue supporting Ethereum users via Base network integration and allow ETH deposits. With 5 million users and a $4.3 billion valuation (as of 2021), Sorare joins other platforms like 1inch and The Graph in transitioning from Ethereum to Solana. Despite a major drop in sports token market caps and NFT values, Sorare’s daily NFT sales remain steady. The company is exploring a multichain approach and considering other high-performance chains like Sui and Aptos. Concerns about Solana’s network outages are minimal, as recent improvements have boosted confidence in the chain’s reliability and speed.
