The nonfungible token startup has partnered with Dream Sports, an Indian sports technology company with over 140 million users.

Rario, a cricket NFT platform, announced on Thursday that it had raised $120 million in Series A funding led by Dream Capital, a venture subsidiary of Dream Sports. According to Rario, it currently controls the majority of cricket NFT rights through partnerships with six international cricket leagues and a roster of over 900 cricketers.

Dream Sports is an Indian sports technology company with over 140 million users. Rario may be able to reach a much larger audience as a result of this collaboration.

What exactly is Rario?

Rario is a cricket fan club where fans can collect, trade, and play with officially licensed digital collectibles ranging from player cards to video moments to cricket artifacts.
So, instead of just watching your favorite players perform or watching their jaw-dropping skills, you can now own those plays.

‍

‍

Rario is a Singapore-based Cricket NFT company. It founded in 2021 by Ankit Wadhwa and Sunny Bhanot, both graduates of the Indian Institute of Technology Delhi. In total, the company has sold 50,000 NFTs to sports fans in 20 countries. Wadhwa commented on the potential synergies with Dream Sports, saying:

"Cricket is the world's second most popular sport, with over 1.5 billion fans worldwide. NFTs are enabling fans to own and trade digital collectibles, resulting in new forms of engagement. Rario's global cricket NFT ecosystem will be bolstered further by Dream Sports' 140 million sports fans."

Cricket Australia, the Australian Cricketers' Association, the Caribbean Premier League, the Sri Lanka Premier League, and the Abu Dhabi T10 League Legends League Cricket are among the notable cricket leagues signed by Rario. Its Cricket NFT platform is based on Polygon (MATIC), and players can freely buy and sell cricket player cards. Transactions are settled in US dollars using credit or debit cards and bank accounts, with a 5% fee charged on NFT card sales.