Dream Capital invests $120 mn in cricket NFT platform Rario – Economic Times

New Delhi: Cricket-based NFT platform Rario raised $120 million in Series A funding from Dream Capital, the corporate venture capital arm of Dream Sports.

Other investors participating in the funding round include Alpha Wave Global (previously Falcon Edge Capital) with existing investors like Animoca Brands (global leader in Web3 gaming), Presight Capital, and Kingsway Capital.

Rario created the first-ever cricket NFT platform and has the largest share of cricket NFT rights through partnerships with 6 global cricket leagues and over 900 cricket professionals.

Singapore-based Rario has access to Dream Sports’ 140 million users, who will be offered Fiat-only products in India, with the potential to create the largest cricket NFT platform globally.

Ankit Wadhwa, Co-Founder & CEO, 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 collectables.”

Founded in 2021, Rario had recently signed a multi-year exclusive partnership with Cricket Australia and the Australian Cricketers’ Association to create an Australian cricket metaverse of collectibles and gaming. This is currently the largest investment by Dream Capital, since its inception in 2020. This also marks the single largest investment in the cricket NFT space globally.

“Web3 use cases in sports are transformational, and we are looking to back more startups in the space globally,” said Dev Bajaj, Chief Strategy Officer, Dream Sports.

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