Blockchain fantasy football network Sorare has partnered with crypto app startup Ramp. The partnership aims to smooth consumer purchases and use of cryptocurrency on Sorare’s platform. The collectibles network has signed major soccer clubs such as Juventus, Bayern Munich, Paris Saint-Germain and Atletico Madrid.
While there are many advantages to using blockchain for collectibles, it also has drawbacks in end-user complexity. Collectible platforms usually require the user to leverage two different types of tokens. One is to buy ether or some other cryptocurrency, which is then used as an ‘on-chain’ means of payment to purchase the item the user really wants – the collectible token or tokenized in-game item. While ether is essentially like an in-game currency, the poor usability experience creates a barrier to adoption.
That’s despite the benefits of using blockchain for the collectible token. Tokenizing a collectible card ensures that each card is unique, cannot be altered or deleted, and is owned by a single gamer. These features help enhance the collectibles’ market value as there is little risk of fraud or duplicating cards, and it has advantages for providers and end-users alike.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
