Riyadh - Sharikat Mubasher: Adaverse, Saudi Arabia’s first Web3 and blockchain fund, announced its strategic investment in the Saudi-based sports tech company Grintafy to accelerate its transition from Web2 to Web3, leveraging blockchain technology to revolutionize talent discovery in football.

In a statement, Adaverse revealed that it will provide crucial support in product development, particularly in integrating Web3 native features and enhancing user experience.

This partnership will also facilitate connections with global resources, including football clubs and media networks, and assist in future fundraising efforts.

Vincent Li, Managing Founder of Adaverse, stated that Grintafy's vision aligns perfectly with the fund’s mission to support transformative Web3 projects. “Their established presence in the sports tech industry, combined with their forward-thinking approach to blockchain integration, presents an exciting opportunity for growth and innovation in the Web3 space,” he said.

On his part, Grintafy's Founder Majdi Allulu affirmed that Adaverse’s investment and expertise in the Web3 ecosystem will be instrumental in the company’s evolution.

Established in 2019, Grintafy has rapidly grown to become the go-to platform for amateur footballers, boasting over 2 million users across its ecosystem. Its innovative approach to creating digital CVs for players has garnered partnerships with federations, ministries, and both local and international clubs.