As per the reports in the market, India’s first-ever official cricket NFT platform, Rario, is in talks to raise $100 million which will be led by Dream Capital, the investment arm of Dream Sports.

Founded by Ankit Wadhwa and Sunny Bhanot during the global boom for NFTs and cryptocurrency, Rario enables cricket fans to collect and trade officially licensed cricket moments of their favourite cricketers and international leagues represented as non-fungible tokens (NFTs).

If the deal goes through, it will be the second round of funding for Rario after it had raised an undisclosed sum from investors, including Presight Capital and Kingsway Capital last year.

Since it has started its operations, Rario has procured NFT rights for more than 550 international crickets along with five international leagues. These rights allow Rario to create digital player cards like trump cards and could be potentially linked to virtual games & applications.

In their bid to become a global sports technology conglomerate, this will be the first foray into the NFT space for US-based Dream Sports, the parent company of online fantasy gaming start-up Dream11.

India has the potential to become the world’s largest NFT industry. NFTs can help sports fans engage deeply with sports and win big through games of skill. This investment will allow Dream Sports to create monetisation opportunities for all the stakeholders - boards, leagues, athletes, and fans.

Moreover, Rario will get an additional 140 millions users (already registered with Dream 11), making it the biggest marketplace for NFTs.

Check Rario NFTs at www.rario.com