Cricket nonfungible token (NFT) platform Rario reportedly revealed details of its freshly acquired $120 million of capital injection via Series A fundraising, led by Dream Capital. 

Specifically, Rario reportedly revealed that it currently possess the most major share of cricket NFT rights, by forging alliances with six cricket leagues throughout the globe, as well as a roster of more than 900 cricketers. 

Dream Sports – the parent firm of the venture division Dream Capital – reportedly functions as a sports technology firm headquartered in India, with over 140 million users. Via this collaboration, Rario has the potential to amplify its exposure to an audience demographic at a bigger scale. 

Rario reportedly operates as a firm based in Singapore established last year by Indian Institute of Technology Delhi alumni Ankit Wadhwa and Sunny Bhanot.

The company has reportedly completed the selling of 50,000 NFTs to sports fans throughout 20 nations on a cumulative basis.

“Cricket is the 2nd 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.” Wadhwa offered further remarks regarding the potential synergies with Dream Sports. 

Noteworthy cricket leagues that inked a deal with Rario reportedly included Cricket Australia, the Australian Cricketers’ Association, the Caribbean Premier League, thLanka Premier League, and Abu Dhabi T10 League Legends League Cricket. 

The NFT platform it built is reportedly functioning on the foundation of Polygon (MATIC), allowing players to purchase and sell cricket players’ cards at will.

Nonetheless, transactions will reportedly be finalized in United States dollars using credit or debit cards and bank accounts, charging a 5% fee on NFT card sales.