Rario, the world’s first cricket NFT platform, has raised $120 million (approximately Rs. 915 crores) in a Series A fundraising round headed by Dream Capital, Dream Sports’ corporate venture capital, mergers, and acquisitions arm.
Rario, a non-fungible token (NFT) platform for cricket, has announced that it has the greatest share of cricket NFT rights in the world, thanks to exclusive relationships with six major cricket leagues and a roster of over 900 cricketers.
Alpha Wave Global, previously Falcon Edge Capital, and current investors Animoca Brands, Presight Capital, and Kingsway Capital are among the other investors in the round.
The firm also boasts over 30 exclusive brand ambassadors, including Australian cricket captain Aaron Finch, as well as Faf Du Plessis, and Jason Holder.
Rario is a blockchain platform that allows Indian cricket fans to exchange legally sanctioned moments from cricket matches. Rario also allows Indian sports fans to buy, sell, and trade NFTs via fiat-only methods including credit cards, debit cards, and bank transfers. Since 2021, Rario has sold over 50,000 NFTs to sports fans in 20 nations, with the United States, the United Kingdom, Australia, and India accounting for the top four markets.
The Hero Caribbean Premier League, Lanka Premier League, Abu Dhabi T10 League, and Legends League Cricket, Lanka League all use the NFT platform to create the NFT series.
The new agreement also provides Rario access to Dream Sports’ 140 million customers in India, who will be provided fiat-only goods, potentially creating the world’s largest cricket NFT platform.
The Singapore-based firm, which was founded in 2021, has since evolved to become a major player in the cricket NFT field, recently signing a multi-year exclusive collaboration with Cricket Australia and the Australian Cricketers’ Association to create a metaverse for Australian cricket. This will be the company’s first official license agreement with a national cricket authority.