Sorare moves to Solana, leaving Ethereum L2 StarkEx

Sorare, a popular blockchain-based fantasy sports game that allows fans to collect NFT player cards, has recently announced a major shift in its operations. The platform is now transitioning from StarkEx, an Ethereum Layer 2 scaling solution, to the Layer 1 blockchain Solana. This move is expected to bring about faster and more cost-effective ways for users to trade player cards within the game.

In a statement released on Oct. 8, Sorare emphasized that the decision to migrate to Solana goes beyond a mere technical upgrade. Instead, it is viewed as a strategic step towards achieving the platform’s goal of becoming the most open and flexible marketplace for digital sports collectibles. By connecting Sorare cards to the broader ecosystem of Solana, users will benefit from enhanced accessibility and seamless management of their NFTs through popular Solana wallets like Phantom.

Looking ahead, Sorare hinted at the possibility of introducing a Sorare ecosystem token as part of its long-term vision. The platform is actively exploring opportunities to form partnerships with other communities, develop new forms of gameplay and utility, and expand its ecosystem through the introduction of a native token.

While the exact reasons behind Sorare’s decision to migrate to Solana were not disclosed, speculations suggest that the platform may have received a significant financial incentive to make the switch. Nonetheless, further details on the motivations behind the move have not been provided by Sorare or Solana representatives at this time.

Founded in 2019 by Nicolas Julia and Adrien Montfort, Sorare initially operated on the Ethereum blockchain before transitioning to L2 StarkEx in mid-2021. This move was aimed at reducing gas costs associated with transactions on the platform. Sorare’s growth trajectory was further propelled in the same year by a successful $680 million Series B funding round, valuing the company at approximately $4.3 billion.

As part of the migration process, Sorare has outlined specific steps for users to follow. Starting this month, ETH balances currently held on StarkEx will be migrated to Base, Coinbase’s Ethereum Layer 2, to enhance transaction efficiency while maintaining a familiar user experience. By the end of October, Sorare cards will be bridged as Solana NFTs, ensuring that all card attributes such as scarcity, serial number, season, XP, and metadata are preserved.

During the migration phase, Sorare has committed to covering all gas fees for users, alleviating the need for individuals to sign transactions or expend crypto assets during the process. It is important to note that cards withdrawn to Ethereum wallets will remain functional in gameplay but will be temporarily restricted from trading on Sorare until re-deposited or bridged to Solana. NFTs left on StarkEx will also be seamlessly bridged to Solana as part of the migration process.

The move by Sorare to migrate to Solana comes at a time when the NFT market is experiencing a resurgence in trading activity. Statistics from DappRadar reveal that the total number of NFT sales reached a peak in Q3, with over 18.1 million NFTs sold and $1.6 billion in trading volume generated. Sorare has emerged as a key player in this arena, recording multimillion-dollar trading volumes and attracting a global community of players and collectors.

In a separate development, Larva Labs recently concluded Art Blocks’ curated series with the release of a new collection, Quine, which sold for 7.56 ETH or $31,000 per Quine NFT. These events underscore the growing momentum in the NFT space and highlight the diverse opportunities available to creators and collectors alike.