Rario, Creators of the World’s First Cricket NFT Platform, Raises $120M in Funding Led by Dream Capital

Investment will potentially make Rario the largest cricket NFT platform in the world with access to 140 million Dream Sports users

Dream Capital’s largest investment to date for a minority stake

Rario, creators of the world’s first cricket NFT platform, today announced a $120 million Series A funding round led by Dream Capital, the Corporate Venture Capital and M&A arm of Dream Sports. Rario currently holds the largest share of NFT cricket rights in the world through exclusive partnerships with 6 international cricket leagues and a roster of over 900 cricketers. Thanks to Dream Capital’s investment, Rario now has access to Dream Sports’ 140 million users, who will be offered FIAT products only in India, with the potential to create the largest cricket NFT platform in the world. . Alpha Wave Global (formerly Falcon Edge Capital) also participated in the round and now joins existing investors Animoca Brands (world leader in Web3 games), Presight Capital and Kingsway Capital.

The Singapore-based company, founded in 2021 by IIT Delhi alumni Ankit Wadhwa and Sunny Bhanot, recently signed one of the largest cricketing NFT deals in the world; a multi-year exclusive partnership with Cricket Australia and the Australian Cricketers’ Association to create an Australian cricket metaverse of collectibles and games.

Rario empowers fans to engage as a community, giving them a chance to own a piece of cricketing history through digital collectibles through player cards, video moments and cricketing artifacts. Through Rario, Indian sports fans can buy, sell and trade NFT via FIAT-only media – credit cards, debit cards and bank transfers. Since 2021, Rario has sold over 50,000 NFTs to sports fans in 20 countries, with the US, UK, Australia and India being its top 4 markets.

Dream Capital was established in 2020 to empower startups by following a multi-stage investment strategy ranging from $1 million to $100 million, with a key focus on key Dream Sports sectors such as sports, games and fitness technology. With Rario, Dream Capital’s portfolio grows to 9 companies and marks Dream Sports’ foray into the Web3 space. This is currently DreamCap’s biggest investment, and also the biggest investment in the cricket NFT space globally.

Commenting on this, Ankit Wadhwa, Co-Founder and CEO, Rario said: “Cricket is the second biggest sport in the world with over 1.5 billion fans worldwide. NFTs create new forms of engagement for fans to own and trade digital collectibles. Rario’s global NFT cricket ecosystem will be further strengthened by the 140 million sports fans on Dream Sports.

Dev Bajaj
Dev Bajaj

Speaking of investment, Dev Bajaj, Chief Strategy Officer, Dream Sportssaid, “DreamCap is pleased to partner with Rario to help sports fans engage more deeply with their favorite players and teams. The use cases for Web3 in sports are transformational, and we seek to support more startups around the world with innovative NFT utilities.”

About Rario – The World’s First Officially Licensed Cricket NFT Platform

Rario is a digital collection platform for cricket fans to collect and trade officially licensed cricket moments on the blockchain, represented as a non-fungible token (NFT). Having Polygon Studios and Animoca as partners, Rario is built on the Polygon network by a leading team of Indian founders and is backed by reputable investors such as Kingsway Capital and Presight Capital.

Rario empowers fans to engage as a community and invest in tangible sporting moments. It gives fans the opportunity to “own” a piece of sports history. Rario has already officially partnered with several international cricket leagues and internationally acclaimed cricket talents that will facilitate the creation of a cricket ecosystem to engage cricket fans around the world. For more information about the company and its global portfolio of online brands, visit www.rario.com

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