Sorare Introduces Cash Wallet for Web3 Payments, Expanding Accessibility for Users July 31, 2023 July 31, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 31, 2023 by Kelly Cromley

Sorare Introduces Cash Wallet for Web3 Payments, Expanding Accessibility for Users

Sorare, a leading platform for digital collectibles, is set to enhance its user experience by introducing Cash Wallet, a Web3 solution enabling users to pay for collectibles using traditional fiat currencies like USD, EUR, and GBP. The move comes as the Web3 environment, also known as the Metaverse, gains popularity, with consumers increasingly engaging in cryptocurrency-based trading for digital goods. The addition of Cash Wallet aims to bridge the gap and provide accessible payment options for online transactions.

Enhanced Accessibility with Cash Wallet

Sorare’s Cash Wallet integration allows its five million registered users to connect their bank accounts, store credit card details, and easily deposit money for hassle-free online transactions. By offering the option to pay with real-world or fiat currencies, Sorare aims to make its platform more user-friendly for all sports fans and fantasy gamers.

Nicolas Julia, the CEO and co-founder of Sorare, expressed the company’s belief in blockchain technology’s ability to deliver unique benefits to sports fans and gamers through authenticity, scarcity, and portability. However, Julia emphasized the importance of ensuring that new technologies are accessible to all users to realize their full potential. The launch of Cash Wallet aligns with Sorare’s commitment to simplicity and user-friendliness, allowing managers to build their teams and collections using traditional currencies for the first time.

Mangopay Collaboration and Advancements in Payment Solutions

Mangopay, a reputable payments platform established in 2013, supports over 2,500 platforms and marketplaces. The company partnered with Sorare to facilitate the implementation of Cash Wallet, reinforcing its dedication to shaping the future of payments. Romain Mazeries, CEO at Mangopay, emphasized their strategic collaboration with Sorare, a pioneering platform in sports, collectibles, and gaming. With Sorare’s impressive growth trajectory and vast user base, the partnership not only strengthens Mangopay’s position but also sets the stage for joint advancements in payment solutions, further enhancing accessibility to Sorare’s innovative blockchain platform.

The Rising Interest in Web3 and the Metaverse

Web3, or the Metaverse, has been gaining significant interest among consumers, driven by the use of cryptocurrency for trading in digital goods. In December 2022, digital payments firm Stripe recognized the need to bridge the payment gap for Web3 companies and introduced a fiat-to-crypto onramp, facilitating seamless payments using traditional currencies.

Sorare’s Cash Wallet launch aligns with the evolving landscape of digital payments and marks a significant step towards providing more inclusive and accessible payment options for the growing community of sports fans and fantasy gamers. As the Web3 environment continues to evolve, platforms like Sorare, in collaboration with innovative payment solutions providers like Mangopay, are poised to shape the next era of payments and drive the mainstream adoption of blockchain technology.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.