Published: 21.04.2022
Article reading time:
2 minutes.
Cricket marketplace NFT Rario has closed a $120 million funding round.
Singapore-based cricket-themed non-fungible token (NFT) trading platform Rario has announced the closing of a $120 million funding round, the company announced on its blog. The funding round was led by Indian fantasy sports company Dream Sports. With the funding, Rario will now offer NFTs to the 140 million users of the Indian platform.
Given the attention of Indian regulators to cryptocurrencies, the site will only accept fiat currencies, not digital ones, the announcement says. Rario’s big investors include venture capital firm Presight and Kingsway, as well as Animoca Brands, which specializes in blockchain games.
The Singapore-based company claims to own the largest share of cricket NFTs in the world. The company recently signed a multi-year exclusive deal with Cricket Australia and the Australian Cricketers Association. The company also has partnership agreements with 6 international cricket leagues and the rights to more than 900 players in this sport.
It is worth noting that there are not so many highly specialized NFT platforms. Popular in this industry are mainly basketball and football. For example, the National Basketball Association (NBA) is one of the biggest players in the NFT market, with nearly $1 billion in sales since its launch in 2021, Top Shot NFT.
In March of this year, the Spanish football club Barcelona announced that they were launching their own digital currency and would also release several collections of NFTs in the near future.
Source: Bits
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