Cricket NFT platform Rario has raised a $120 million Series A funding round led by Dream Capital, the corporate venture capital and M&A arm of Dream Sports. The funding round also saw participation from Alpha Wave Global (previously Falcon Edge Capital).
With this funding from Dream Capital, Rario now gets access to Dream Sports’ 140 million users. As per Rario, these users will be offered FIAT-only products in India, with the potential to create the largest cricket NFT platform globally.
RARIO | Cricket NFT Platform
Founded by IIT Delhi alumni Ankit Wadhwa and Sunny Bhanot in 2021, Rario is a digital collectibles marketplace for cricket, allowing users to buy, sell and trade officially licensed cricket NFTs.
The cricket NFT platform claims to have the largest share of cricket NFT rights globally through exclusive partnerships with six international cricket leagues and a roster of 900+ cricketers.
Commenting on the development, Ankit Wadhwa, Co-founder and CEO of Rario, said,
“Cricket is the second largest sport in the world with more than 1.5 billion fans globally. NFTs are creating new forms of engagement, allowing fans to own and trade digital collectibles. Rario’s global cricket NFT ecosystem will be further strengthened by the 140 million sports fans on Dream Sports.”
As per the startup, since 2021, it has sold over 50,000 NFTs to sports fans across 20 countries, with the USA, UK, Australia, and India as its top four markets.
In February 2022, The StartupLab’s team reported that Dream Sports is in advanced talks to lead a $100 million round of funding in Rario. And now, with the official announcement of the funding round, Rario’s global cricket NFT ecosystem will be further strengthened by the 140 million sports fans on Dream Sports.
Rario has recently signed one of the world’s largest cricket NFT deals, a multi-year exclusive partnership with Cricket Australia and the Australian Cricketers’ Association, to create an Australian cricket metaverse of collectibles and gaming.
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