Cricket NFT platform Rario raises $120M in a Series A round led by Dream Capital

Singapore-based cricket NFT platform Rario has raised $120 million (about Rs 914 crore) in a Series A funding round led by Dream Capital, the Corporate Venture Capital and M&A arm of Dream Sports.

According to the company's statement, Rario currently is dominating in the cricket NFT rights globally through exclusive partnerships with 6 international cricket leagues and a roster of 900+ cricketers. With Dream Capital’s investment, Rario now gets 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, it said.

Founded in 2021 by IIT Delhi alumni Ankit Wadhwa and Sunny Bhanot, Rario says it recently signed one of the world’s largest cricket NFT deals; a multi-year exclusive partnership with Cricket Australia and the Australian Cricketers’ Association to create an Australian cricket metaverse of collectibles and gaming. 

Rario enables fans to engage as a community, giving them a chance to own a piece of cricket history through digital collectibles across player cards, video moments, and cricket artifacts. Through Rario, Indian sports fans can buy, sell, and trade NFTs through FIAT-only mediums — credit cards, debit cards, and bank transfers. 

Since 2021, Rario has sold over 50,000 NFTs to sports fans across 20 countries with the USA, UK, Australia, and India as its top 4 markets, it adds.

Commenting on the development, Ankit Wadhwa, Co-Founder & CEO, Rario said, “Cricket is the 2nd largest sport in the world with more than 1.5bn 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 140M sports fans on Dream Sports.”

Speaking on the investment, Dev Bajaj, Chief Strategy Officer, Dream Sports, said, “DreamCap is glad to partner with Rario to help sports fans engage deeper with their favorite players and teams.

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