PRESSR: Sorbet secures strategic investment from Adaverse

Riyadh, Saudi Arabia - Adaverse, the premier venture fund and accelerator in Asia, the Middle East, and Africa, is pleased to announce a strategic investment in Sorbet, a cutting-edge Web3 platform designed to redefine the future of work across the MENA region.

This pivotal investment, part of a $10 million initiative to foster venture-building in the region, aligns with the economic upswing projected for the region's digital economy.

In a recent economic assessment, the MENA region's GDP is set to grow by 2.7% in 2024. Despite this positive trend, the digital freelance market, currently valued at $4 billion, faces significant challenges, particularly with inefficient payment systems affecting approximately 40 million self-employed workers. Sorbet's vision is to onboard all creatives onto web3 by removing the technical barriers traditionally associated with dApps. The tool leverages blockchain technology to provide a seamless payment solution using stablecoins, enhancing the financial accessibility for even the unbanked through decentralized finance (DeFi) gateways.

Rami Djebari, co-founder of Sorbet, expressed enthusiasm about the partnership: "Receiving support from an experienced partner like Adaverse will accelerate our development and enhance our market strategy. This collaboration is a milestone in breaking down financial barriers and enabling limitless growth opportunities for professionals in the region."

Sorbet is not just a platform but a movement towards a more equitable and efficient working environment. By eliminating freelancer fees and intermediaries, Sorbet ensures a direct and fair exchange between creatives and their clients. The upcoming Sorbet Beta will further refine the freelancing experience by integrating project management tools and streamlined payment processes.

Vincent Li, founding partner at Adaverse, commented on the investment, saying, "Sorbet exemplifies the potential of blockchain to enrich and enhance economic systems. We are excited about the potential Sorbet holds for economic upliftment in line with Saudi Vision 2030."

The investment in Sorbet not only aligns with Saudi Arabia's Vision 2030 but also actively contributes to its realization. By fostering a thriving digital economy and empowering professionals in the region, Sorbet is directly supporting the nation's ambitions for economic diversification, social development, and a brighter future for its people.

For additional information, to sign up for Sorbet, or to inquire about Adaverse funding, please visit the following links:

Sorbet Sign-Up: https://mysorbet.xyz/

Adaverse Official Website: Adaverse.co

Media Inquiries: bola@adaverse.co

-Ends-

About Adaverse:

Adaverse is the first Web3 and blockchain fund in Saudi Arabia, launched as part of the Cardano Investment Vehicle. With a mission to nurture early-stage startups in the MENA region, Adaverse has already supported over 54 startups, driving the integration of blockchain technology into regional economic activities.

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.