Serena Williams is the latest big name to be involved with NFTs (non-fungible tokens). She has become a board advisor for Sorare, an NFT platform for fantasy sports.
If you’re not in the know about NFTs, not to worry! Let’s break them down below.
What are NFTs?
These are unique cryptographic tokens that cannot be replaced.
They all have distinct identification codes, so the value of each NFT is different.
They are not like other cryptocurrencies, where the value of tokens is identical. To put it simply, one Bitcoin has the same value as another Bitcoin, but one NFT has a different value from another.
The NFT space mainly focuses on collectibles, like sports cards, artworks, and various rarities.
An example is the tokenized version of the first-ever Tweet, which received bids of up to $2.5 million.
Where Serena Comes into NFTs
Serena Williams is no stranger to building up new and/or small brands related to sports.
In her new role for Sorare, she is helping the platform to develop and improve its relationships with athletes.
She is also advising them on strategies they can use to move into new sports categories like women’s sports, and how they can make Web3 more diverse and inclusive.
What is Sorare’s Mission?
Sorare’s goal is to become a global leader at the intersection of NFTs and fantasy sports.
This needs exceptional expertise, so the brand naturally went to the legendary Serena to help it revolutionize sports entertainment for the new age.
According to Nicolas Julia, the CEO, Serena Williams is a modern-day legend in culture and sports.
She has redefined what a modern entrepreneur and athlete can be, which includes her various investing successes.
Redefining Sports Entertainment
Even though Serena is new to her role at Sorare, she is an old hand when it comes to technology.
She has invested in tech companies like CoinTracker, which monitors cryptocurrency portfolios, and Lolli, a Bitcoin rewards company.
We’re certain that the sports superstar will lead Sorare to great things.