Serena Williams’s NFT investment, SoRare, is teaming up with the National Basketball Association (NBA) and the National Basketball Players Association.
The collaboration plans to launch the first ever free-to-play fantasy game based on digital cards.
“Our partnership with SoRare will give NBA fans an entirely new way to engage with our teams and players.”–Essentially Sports, NBA Commissioner Adam Silver.
The seven times Wimbledon champion is an active investor. Serena Ventures has given wings to over 60 new startups through her firm. Coming to her latest investment, she recently collaborated with the California-based organization Just Egg.
SoRare collaborates with the NBA.
SoRare is teaming up with the National Basketball Association (NBA) and the National Basketball Players Association. The collaboration plans to launch the first ever free-to-play fantasy game based on digital cards.
Further, the new game powered by SoRare and the NBA, ‘SoRare: NBA,‘ will enter the market ahead of the 2022-2023 NBA season. Fans can soon use SoRare portals to buy, sell and trade digital trading cards. The cards are a part of the Ethereum blockchain, one of the biggest crypto platforms.
Serena Williams already has shares in Bitcoin through Nestcoin, a company building products to help Africans and residents of other frontier markets understand and adopt Crypto. She joined hands with the company to support and help Africans and other frontier markets understand and adopt Crypto. In addition, she is now a part of the Cash App, the most significant money transferring app in the UK and US.
Nestcoin, a company building products to help Africans and residents of other frontier markets understand and adopt Crypto, announced the raise of $6.45 million in pre-seed funding on Feb. 1. Venture capital firms Distributed Global and Alter Global led the round.
Distributed Global invests primarily in blockchain companies, while Alter Global focuses on startups in emerging markets. Serena Ventures, Alameda Research, A&T Capital, MSA Capital, 4DX Ventures, and others participated in the funding round.
Yele Bademosi and Taiwo Orilogbon co-founded Nestcoin, and since launching in November 2021, it has collectively confirmed the company’s intentions of driving crypto adoption in Africa.
Nestcoin: Exit The Status Quo
“We build, operate and invest in simple products that make crypto accessible to everyone.” – Nestcoin
Nestcoin is an independently nested project that spans Decentralized Finance (DeFi), Media, Digital Art, and Gaming. They’re all designed to meet users wherever they are in their crypto journey for a personalized, immersive experience.
In February of 2022, tennis star, business mogul, and all-around inspiration Serena Williams decided to use her company, Serena Ventures, to invest in a company that can help drive the rate of crypto adoption within Africa.
According to Tribune Online, Serena Ventures and others participated in a funding round to help Nestcoin build products for the African markets that would allow residents to understand and adopt Crypto. Nestcoin raised $6.45 million in pre-seed funding by the beginning of February. The company intends to drive crypto adoption within the continent since it was formed by Yele Bademosi and Taiwo Orilogbon and launched in November 2021.
SoRare And The NBA
French startup SoRare initially launched a fantasy football (soccer) game. The company expanded to new sports this year and partnered with Major League Baseball earlier this year. The company’s announcement that it is partnering with the NBA is exciting Esports fans and reigniting sports card trading nostalgia.
Thanks to this multiyear partnership, SoRare will launch an officially licensed NFT-based fantasy basketball game this fall: SoRare NBA.
For the NBA, it is also a logical follow-up to its “discovery” of Web 3. In April, the American League launched NBAxNFT, which aims to bring together everything related to “basketball with NFTs, games, the metaverse, and Web3 ideas,” reports the site TechTribune.net. A few days before, the Golden State Warriors had created, for their part, the NFT responsive Playoff 2022.
“If they chose SoRare to accompany them in the continuation of this development, it is because we are recognized in this market,” – Thibaut Predhomme, Archysport
Like other SoRare games, players will be able to buy and sell digital cards representing basketball players. Users can then put together lineups of basketball players and earn points based on real-life performances.
Our SoRare Guide will fill readers in on trading NFTs on the platform.
Africa And The Push For Bitcoin
According to Crypto. Due to unstable regulations and foreign exchange shortages, Africa is a notoriously tough market for fintech organizations. Moreover, Africa is considered a crypto goldmine with a population of 1.4 billion and demographics of over 50% below 25. The African tech market is estimated to be worth over $40 billion.
Furthermore, emerging blockchain technology and cryptocurrency have also resolved regional cross-border trade problems. For example, Africans have taken to Crypto, and Nigeria has one of the largest bitcoin p2p markets in the world. Therefore, it is unsurprising that companies with blockchain and fintech backgrounds have been able to get funding from top venture capitalists.
The game is coming soon, and with sports legend Serena Williams supporting the move, it will be a slam dunk.