Sorare appoints Serena Williams as advisor to board
Tennis - 21 Jan 2022
Sorare, the blockchain-based fantasy soccer platform, has appointed women's tennis great Serena Williams as an advisor to its board of directors.
In the role, Williams will provide guidance for the company on a range of topics, including on developing relationships with athletes, strategies for expansion into new sports categories, and initiatives for making Web3 - the concept of a new decentralized version of the internet - more inclusive and diverse.
Sorare hopes that her experience building brands, businesses, and fanbases will help to accelerate its growth, which has already seen it increase its trading volume from $7 million in 2020 to $325 million in 2021.
As the company notes, Williams has significant business experience beyond the tennis court, with her Serena Ventures investment company aimed at helping to grow early-stage companies.
Sorare claims to have reached more than one million users and partnered with 230 sports organizations, including the likes of Spain’s LaLiga, Germany’s Bundesliga, and a host of major clubs including the likes of Bayern Munich and Juventus.
In September last year, it announced that it had raised $680 million in Series B financing led by Softbank, giving the company a valuation of $4.3 billion.
The following month it made four key appointments, including that of former BetMGM chief operating officer Ryan Spoon to an equivalent role.
Nicolas Julia, chief executive at Sorare, said: “Serena Williams is among the most important figures in sports and culture, who has redefined the modern athlete and entrepreneur, including her unprecedented early-stage investing successes. The strategic counsel that Serena will bring in building one of the most iconic sports entertainment brands is invaluable. I’m thrilled to have her join the team. Together, we’ll forge new ways for fans to engage with their favorite athletes.”
Williams added: “NFTs have the potential to be a powerful tool for bringing equity and investment to women’s sports. I’m excited to start working alongside Nicolas 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.”