Exploring SorareTools Portfolio Tracking & Tax Features
Disclaimer: SorareTools is a partner of Lucky Trader, and Lucky Trader has received payment for the following content.
Looking for a portfolio tracker and tax software for all of your Sorare needs?
If you've been reading our twice-weekly Sorare NBA Game Week Primers, you might have seen SorareTools as a featured partner.
With SorareTools, you can track your returns on every card purchased, view your current and historical portfolio value, and understand the success of your trading strategy.
Below are some of the unique features available on the SorareTools platform. If you like what you see, get 20% off of a 12-month subscription using the code LUCKYTRADER20!
Market Data 📊
Sorare data has historically been a bit cumbersome to find — especially when it comes to breaking out segments of the market by each individual sport. But on SorareTools' Market Data page, users can view and export data with ease — including historical numbers, overall market caps, average card valuations, and the number of cards in circulation. The numbers are also further broken down by rarity tier — providing even more granular data to inform your decisions.
Track Your Squad 🧮
SorareTools has several different features to help monitor trends in the markets, with integration into your account for easy tracking of your entire collection.
From individual player price trends to category-specific portfolio breakdowns (trading, rewards, etc.), the available dashboards give managers all the data needed to make informed decisions in an always-changing market.
An example of the 'Current Squad' dashboard using my Sorare NBA collection:
The Rewards Analyzer tab also allows users to track all the specifics of the prizes won in competition — including reward value, position finished, point totals, tier level, and more. While the examples above show NBA data, the tools are available across Sorare's Football and MLB platforms as well.
Additionally, the Portfolio Tracker and Current Squad trackers are available as Google Sheets, enabling users to export, customize and further analyze the data.
Tax Reporting 💵
While reporting NFT transactions for tax purposes is usually a difficult endeavor, SorareTools' Tax Reporting generates all the information needed for accounting purposes, including:
- Summary Report
- Profit and Loss – realized sales for the year
- Card Transactions – an overview of card transactions
- ETH Transactions – the transactions in your ETH Wallet + all Card purchases
- ETH Appreciation – gains/losses from the appreciation in your wallet
Formatting is also available for several different countries (as tax laws vary by jurisdiction), and can be neatly exported to include in your filings. Click here for an example of a generated Tax Report on the platform.
Important Links 🔗
- Visit SorareTools (get 20% off of a 12-month subscription using the code LUCKYTRADER20)
- Check out our Sorare NBA Primers, which run prior to lock each Game Week.