IPL 2022: NFT Start-Up Rario to get a big boost from Dream Capital – Rario, the world’s first officially licensed cricket digital platform, is set to get a big boost ahead of the 15th edition of Indian Premier League (IPL). Dream Capital, the corporate venture capital arm of Dream Sports, has initiated advance talks to lead a $100 million funding round in cricket-based Non-Fungible Token (NFT). Follow IPL 2022 live updates on InsideSport.IN.
According to reports, the deal would be one of the biggest investments in the NFT sector. For Dream Capital, it will be a huge accomplishment as it is trying to get a foothold in the Web3 space. Rario has already tied up with multiple cricketers ahead of IPL 2022 including Rishabh Pant.
IPL 2022: NFT Start-Up Mario’s BIG BET on Cricket tie-ups bears fruit, Dream Capital & others ready to invest $100 million
IPL 2022: Facts about Rario
- Rario was founded in 2021 by Sunny Bhanot and Ankit Wadhwa
- It has raised an undisclosed sum from the investors, Presight Capital and Kingsway Capital in 2021
- It has acquired over 600 cricketers through its various partnerships
- Already acquired five international leagues
- Rario will also create digital player trump cards
- Soon to be launched games and applications
IPL 2022: NFT Start-Up Mario’s BIG BET on Cricket tie-ups bears fruit, Dream Capital & others ready to invest $100 million
The investment will allow Dream Sports to create utilities on the rights Rario has acquired,” said one person. Rario and Dream Sports are exploring more partnerships, according to sources.
A spokesperson for Dream Sports has not commented on the potential jaw-dropping deal. Rario has also declined to comment. Rario has managed to attract quite a few eyeballs since its inception. Close to 19 countries’ have been shown interest in this new venture. It has also sold a staggering 50,000 NFTs on its platform.
Even US-based Dream Sports, the parent company of online fantasy gaming start-up Dream 11 has set up a venture arm in August 2021 with a whopping amount of $250 million.
IPL 2022: NFT Start-Up Rario’s BIG BET on Cricket tie-ups bears fruit, Dream Capital & others ready to invest $100 million
