Sorare, the popular platform for buying, selling, and trading digital player cards in a peer-to-peer NFT marketplace, where you can play Sorare NBA, Sorare MLB, or Sorare Football game, has announced some key updates to its payment processes.
On Wednesday, March 29, at 4 pm CET/10 am ET, credit card and debit card payments will be temporarily removed from the Manager Sales Marketplace (Secondary Marketplace).
It’s worth noting that Sorare Managers can still use their ETH wallet to purchase digital player cards and facilitate exchanges on the Secondary Marketplace.
Furthermore, there will be no changes to payment methods in Sorare’s Primary Marketplace, including digital player cards purchased at auction and Starter Packs.
The decision to review and revise Sorare’s payment processes was taken after a thorough assessment of current workflows. This exercise has revealed opportunities to improve workflows and safeguard the platform from unwanted activities, including credit card fraud.
While this change will require some Managers to adjust their payment processes, it has many benefits. For instance, they are redirecting fraudulent users to paths that are easier to deter and enabling Sorare to open bank accounts in regions where banks have requested this change to comply with their own internal policies.
Sorare acknowledges that, like any platform operating a marketplace, it has to make tradeoffs between flexibility and safety in its payments support. However, the ultimate goal is to launch a seamless fiat wallet system that will solve the existing wallet system challenges in addition to the ETH wallet system.
This project is similar in scale to their blockchain scaling solution launched in July 2021. Sorare is progressing on this project and looks forward to welcoming even more passionate global sports fans to the Sorare community.
We will continue to provide an update to Sorares on their progress and welcomes your feedback.