Rario, a cricket NFT platform, has raised $120 million in a funding round.

Rario, a cricket-based NFT platform, recently announced a $120 million Series A fundraising round. The financing was led by Dream Sports, Dream Capital’s corporate venture capital arm, with Alpha Wave Global, an asset management business, also participating.

Rario will now have access to Dream Sports’ 140 million cricket-mad user base in India, where it may extend its cricket NFT trading services, thanks to the new funding and collaborations.

Dev Bajaj, chief strategy officer at Dream Sports, hinted that Dream Capital’s Web3 investment will most likely not be the last: “Web3 uses cases in sports, and we are looking to back more entrepreneurs in the global space with utility of NFTs.”

Rario gives cricket fans a platform to own pieces of the sport’s history via NFT player cards, video moments, and artefacts, thanks to an illustrious list of exclusive partnerships that have allowed the platform to claim ownership over the largest share of cricket-centric NFT rights across the globe (while also having official associations with six international cricket leagues and over 900 cricketers).

The platform’s inclusion of a fiat-based payment system, which allows low-barrier methods like credit cards, debit cards, and bank transfers to be utilized to make purchases, is most certainly a crucial element in the platform’s successful distribution of over 50,000 NFTs to sports fans in 20 countries.

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