Serena Williams Joins Sorare To Help $4.3 Billion Blockchain Firm Conquer US Sports, Women’s Leagues
Serena Williams, one of the greatest tennis players of all time, is joining the $4.3 billion blockchain-based fantasy soccer game Sorare as a board advisor. In September 2021, the Parisian soccer fantasy company received the fifth largest ever funding round in the crypto industry, hauling in $680 million in cash at a $4.3 billion valuation.
Sorare is a fantasy soccer game that runs on the Ethereum blockchain. It allows users to buy NFTs of famous soccer players such as PSG’s Lionel Messi or Borussia Dortmund’s Erling Haaland, field them in fantasy leagues, and trade them with other users.
By the end of December 2021, Sorare had 1 million registered users, of whom 270,000 were active monthly, and 90,000 had purchased in-game NFTs using fiat or cryptocurrency to unlock more functionality (beginning leagues are free). Founded in 2018, Sorare’s trading volume ballooned from $7 million in 2020 to $325 million in 2021. In November, Bonhams auctioning house in London sold a Sorare NFT card of Cristiano Ronaldo for $400,313.
For the France-based Sorare, Williams’ appointment coincides with a planned push into the North American market – with a specific focus on women’s sports. For now, Sorare has IP licence deals with 230 men’s soccer clubs and leagues, including Spain’s LaLiga, Germany’s Bundesliga, Japan’s J League, North America’s MLS, and Juventus, Italy’s record champions.
