Cricket non-fungible tokens (NFTs) startup Rario raised $120 milion led by Dream Capital, the corporate venture capital and M&A arm of unicorn Dream Sports where Alpha Wave Global (previously Falcon Edge Capital) with existing investors Animoca Brands (Global leader in Web3 gaming), Presight Capital, and Kingsway Capital also participated.
Rario empowers cricket fans to engage as a community by allowing them to own digital collectibles such as officially licenced cricketing moments and player cards on the blockchain, represented as an NFT, similar to traditional trading cards or memorabilia. Rario will become the world's largest cricket NFT platform, with access to 140 million Dream Sports users, as a result of the investment. This is Dream Capital's first investment in the Web3 space, as well as its largest investment in a startup to date. Since 2021, Rario has sold over 50,000 NFTs to fans in 20 countries, with the United States, United Kingdom, Australia, and India being its top markets.