Serena Williams Becomes Board Advisor for $4.3 Billion Worth Blockchain-Based Soccer Game
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Serena Williams of the United States in action against Kristie Ahn of the United States in the first round of the Women’s Singles competition on Court Philippe-Chatrier during the French Open Tennis Tournament at Roland Garros on September 28th 2020 in Paris, France. (Photo by Tim Clayton/Corbis via Getty Images)
Tennis legend Serena Williams has joined blockchain-based fantasy soccer game Sorare, as a board advisor. Not only is her venture capital firm Serena Ventures involved, reports are that she has also made a personal investment in the company.
The Paris-based soccer fantasy company hauled in $680 million in cash at a $4.3 billion valuation. This is the fifth-largest ever funding round in the crypto industry.
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CEO Nicolas Julia talked to Forbes about his excitement to work with the tennis star. He said, “When you have the ambition to build the biggest entertainment group in the world of sports, and you have the opportunity to partner with one of the greatest athletes in history, you want that perspective.”
via Reuters
Metropolitan Museum of Art Costume Institute Gala – Met Gala – In America: A Lexicon of Fashion – Arrivals – New York City, U.S. – September 13, 2021. Tennis player Serena Williams. REUTERS/Mario Anzuoni
As of now, Sorare has IP license deals with over 200 men’s soccer clubs and leagues- LaLiga, Bundesliga, J League, MLS, and Juventus, to name a few.
Serena Williams says her husband introduced her to the company
Serena mentioned it was actually her husband, the founder of Reddit, Alexis Ohanian, that introduced her to the company. In February 2021, her venture capital firm, Serena Ventures, invested in Sorare in its $50 million series A round.
The 23-time grand slam champion said that she found Sorare to be different. “Sorare does more than just collectibles. They deliver meaningful interactions between users and their favorite teams or players, which I thought was different.”
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GM @Sorare
Excited to join as Board Advisor and shape Web3 and the future of sports fandom. pic.twitter.com/T7Sy7pB3M4
— Serena Williams (@serenawilliams) January 20, 2022
“When we think of web3 and we think of crypto: that’s going to be the biggest space for the next several years in terms of growth,” she added.
Serena Ventures was a secret for a long time
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Serena Williams founded her venture capital firm Serena Ventures back in 2014. However, she publicly announced it five years later through an Instagram post.
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Over the years, the company has only grown. Currently, it has a $33 billion portfolio market cap and its latest investment was just one of many. What do you make of this news?
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