Sorare NFT Sales: Breaking Down the October Numbers
The total value of Sorare NFTs sold in October was about $27 million. This was a significant jump compared to the $22 million recorded in the previous month.
However, the fantasy sports platform is still way below its 2022 record of $40 million, which was recorded in February. The $40 million haul in February is also the current all-time NFT sales record, according to CryptoSlam.
Nonetheless, the October numbers meant that Sorare ended the month at the top of P2E NFT sales. Also, Sorare NFT sales are outperforming other major collections in the broader NFT market.
In fact, tracking by CryptoSlam shows that in the last 30 days, only the Bored Ape Yacht Club sold more NFTs than the P2E fantasy sports game.
It is also worth pointing out that these NFT sales cut across the entire Sorare ecosystem. As such, the figure includes NFTs for Sorare football, Sorare MLB, and Sorare NBA, which launched about two weeks ago.
How Sorare NFT Sales compare to Other P2E Games
The broader P2E market has maintained a bullish trend over the past few months. This comes despite a very slowed investor sentiment in the crypto industry. However, there are, of course, a few P2E projects that are doing better than others.
Gods Unchained, in particular, has ramped up NFT sales over the last three months. In fact, the Immutable-based card trading game ended October with a new all-time monthly sales record of around $21 million.
The October sales for GU were almost double the figures reported the previous month. Gods Unchained has now sold around $90 million worth of NFTs in its lifetime.
It was the second-ranked P2E game after Sorare. Also, the game is ranked 3rd overall in NFT sales over the last 30 days. Only Sorare and the Bored Yacht Ape Club have actually done better.
The first season of Gods Unchained is almost done. As players await season 2, NFT sales may struggle to match the numbers seen in October. But we will wait and see what happens.
Axie Infinity Comes in 3rd
The top 3 list of the best performing P2E games in terms of monthly NFT sales for October is wrapped up by Axie Infinity. The game recently launched its Origin reboot, and it seems sales are on the right track.
According to data from CryptoSlam, Axie Infinity sold around $3.5 million worth of NFTs in October. This represents a 12% drop compared to the previous month. It’s also the second month in a row where NFT sales have declined.
The game saw a nice bump in sales in August, presumably because of the Origin launch. But it seems sales are now stabilizing and slowing a bit.
Besides, Axie Infinity is way off its 2022 high. The game saw sales of around $126 million in January, the highest in the entire P2E space. Axie Infinity has, however, failed to replicate this success during the course of the year.
Despite all this, the game remains the most successful P2E game of all time, with lifetime NFT sales of over $4 billion.
Can Sorare NFT Sales Continue Rising?
Well, there are many factors to consider first. Remember, Sorare is a fantasy sports game. However, the biggest percentage of users are in the football section.
So, even though the platform has an MLB and an NBA option, a majority of folks who play Sorare play fantasy soccer.
The regular football calendar is going to take a break in November for a whole month to pave the way for the World Cup in Qatar.
While Sorare has made several gameweek changes and announced special tournaments for the World Cup, the competition is very limited compared to regular weekend football leagues.
As such, we expect sales to dip a bit until the end of the showpiece event in the Gulf. Now, typically you would argue that the MLB and the NBA would cover the shortfall.
However, the MLB season is also in the final stages, with the World Series already into Game 3. The only option now left is the NBA. But keep in mind that Sorare NBA is not even two weeks old. In fact, the second gameweek was just concluded last weekend.
When all these things are factored in, it’s hard to see a path where sales will be much better compared to October.