Serena Williams joins NFT start-up Sorare as board advisor

Tennis champion Serena Williams has joined French NFT company Sorare as an advisor to its board of directors.

The move follows Sorare’s $680m fundraiser in 2021, which saw investors including Softbank taking the company’s valuation to $4.3bn.

The platform sells non-fungible tokens (NFTs) including art and football memorabilia using blockchain technology. Currently, Sorare allows fans to buy and own ‘player tokens’ and users are subsequently rewarded in crypto for their players performance in the fantasy football games.

The partnership with Williams aims to expand Sorare’s NFT offering further into the sports arena, the company said. The tennis star will also advise on diversity and inclusion and help the business develop positive relationships with sports professionals, particularly female athletes.

READ MORE: Stitch Fix partners with Venus Williams to tackle gym anxiety

The company has 260k monthly active users across 180 countries.

“NFTs have the potential to be a powerful tool for bringing equity and investment to women’s sports,” Williams said in a statement.

“I’m excited to start working alongside Nicolas [Sorare’s CEO] and the team because they understand the relationship between athletes and fans unlike anyone else in the category, and I believe Sorare will be setting the culture and tone of the future of sports entertainment.”

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