“NFTs have the potential to be a powerful tool for bringing equity and investment to women’s sports,” Williams said in a statement. In addition to Williams’ ties to tennis, both she and Ohanian are investors in NWSL expansion club Angel City FC, and Ohanian has reportedlyadvocated for Sorare to make inroads in women’s soccer. The company has plans to expand into women’s sports and new sport categories in 2022. We look at ourselves as a global company, and Serena is a global figure and can think on that scale.” “She will be an incredible resource for us. “Serena Williams is one of the most iconic athletes: She has been extremely successful both on the tennis court and off, has a great track record of early investing and vision and insight, especially for a new technology platform like Sorare,” Michael Meltzer, head of business development at Sorare, said in a phone interview. Williams’ husband, Reddit co-founder and venture capitalist Alexis Ohanian, is an investor in the company. Williams’ new role deepens Sorare’s ties to the 23-time Grand Slam champion’s family. The Paris-based company’s NFTs function as both collectibles and gaming tokens that can be used in fantasy-style contests for real money. Sorare’s value proposition in the thriving digital collectibles market combines the concepts of NFTs with fantasy contests. Williams will provide guidance on topics including athlete relationships, expansion, and diversity and inclusion initiatives, as Sorare looks to broaden both its footprint and its offerings, with a particular eye on women’s sports. We believe this is a huge opportunity to create the next sports entertainment giant, bringing Sorare to more football fans and organisations, and to introduce the same proven model to other sports and sports fans worldwide,” Sorare co-founder and CEO Nicolas Julia said.Tennis legend Serena Williams has joined European NFT company Sorare as an advisor to its board of directors. We are thrilled by the success we have seen so far, but this is just the beginning. “We saw the immense potential that blockchain and NFTs brought to unlock a new way for football clubs, footballers, and their fans to experience a deeper connection with each other. Sales have grown by 51x between the second quarter of 2020 and the second quarter of 2021. There are currently 600,000 registered users and 150,000 users who are buying a card or composing a team every month. While the volume of transaction is quite big, there is still a lot of potential for user growth. Sorare doesn’t take a cut on player-to-player transactions right now. A total of $150 million worth of cards have been traded on the platform since January. That’s why players often buy and sell cards from other players - there are even third-party websites that help you track auctions. Over time, the value of a card can go up or down. They can also manage a squad of players and earn points based on real-life performances. Players can then buy those new cards and add them to their collection. Sorare generates revenue by issuing new cards on the platform. Some of the startup’s existing investors are also investing once again, such as Benchmark, Accel, Headline and various business angels. In addition to SoftBank’s Vision Fund team, Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree are also participating in the round. You can expect more partnership announcements with professional sports organizations in the future. With today’s funding round, the company plans to expand to new sports, open an office in the U.S., hire more people and invest in marketing campaigns. It creates a barrier to entry for other companies in the space. What makes Sorare unique is that it has partnered with 180 football organizations, including some of the most famous clubs in Europe, such as Real Madrid, Liverpool and Juventus. Transactions are all recorded on the Ethereum blockchain. Players can buy and sell cards from other players. Each digital card is registered as a unique token on the Ethereum blockchain. Sorare has built a fantasty football (soccer) platform based on NFTs, or non-fungible tokens. SoftBank’s Vision Fund 2 has led a $680 million Series B round, which values the company at $4.3 billion. French startup Sorare has announced that it has raised a significant funding round.
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