Cricket NFT platform Rario announces $120 million funding round

Quick Take

  • The company will now get access to funding round leader Dream Sport’s 140 million users in India.
  • Deloitte Global has predicted that NFTs for sports media will generate more than $2 billion in revenue this year.

Cricket NFT platform Rario announced a $120 million funding round led by Dream Sports’ venture capital and M&A arm Dream Capital on Thursday.

Along with Alpha Wave Global (previously Falcon Edge Capital), Dream Capital will join existing investors Animoca Brands, Presight Capital and Kingsway Capital.

Based in Singapore, Rario offers cricket fans NFT player cards, video moments and cricket artifacts. The company said it has sold over 50,000 NFTs since its launch last year. 

Sporting teams have been quick to jump on the NFT bandwagon of late. In December, Michael Jordan secured $10 million in seed funding to launch fan engagement platform Heir. Last month it dropped its first NFTs, which were priced at around 2.3 SOL ($220). 

In soccer, Tim Mangnall, the CEO of Capital Block, an agency that specializes in helping teams and organizations in Eur