Singapore-based Rario raised $120M in funding led by Dream Capital

singaporebased rario nfts nft 120m dream

Rario, a cricket NFT (non-fungible token) platform, has confirmed raising $120 million. The lead investor is Dream Capital, Dream Sports’ corporate VC and mergers and acquisitions division. Alpha Wave Global also took part in the funding round, joining existing investors such as Kingsway Capital, Presight Capital, and Animoca Brands.

Dream Capital has taken its first steps into investing in the Web3 segment. The investment will enable access to a user base of 140 million users at Dream Sports for Rario. The Chief Strategy Officer at Dream Sports, Dev Bajaj, states that they view a more sustainable and attractive use-case for sports-based NFTs as a tool to engage fans.

Fans of sports can now have ownership of their preferred player cards and moments while using them throughout multiple utilities. Rario is a good fit for Dream Sports, while being a sizable investment at the same time. Rario is based in Singapore and was founded by Ankit Wadhwa and Sunny Bhanot in 2021 amidst the worldwide boom in cryptocurrency and NFTs.

The platform has acquired NFT rights for six global leagues and 900+ global cricketers with several partnerships. It has also inked an exclusive deal with the Australian Cricketers’ Association and Cricket Australia for building a Metaverse of Australian cricket gaming and collectibles.

Wadhwa has stated that Rario has managed to get the most extensive rights, which include player rights as well. The company will be deploying the funds for getting additional rights, while developing products simultaneously. Rario helps fans to engage better as communities, providing a chance to attain ownership of cricket history via cricket artifacts, and digital collectibles through video-based moments and player cards. Sporting fans in the country can now sell, purchase and trade in NFTs with debit cards, credit cards, and bank transfers. From 2021, Rario has readily sold 50,000+ NFTs to buyers throughout 20 nations. Top-selling global markets include India, the United Kingdom, Australia, and the United States.

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