Just-In: This Sports NFT Platform Just Raised $120 Mln In Funding

Rario, an NFT platform dedicated to cricket, said on Thursday it had raised $120 million in series A funding. The round was led by the venture capital arm of Indian fantasy sports firm Dream Sports.

With the new funding, and a partnership with Dream, the firm will now offer cricket-themed NFTs to Dream Sports’ 140 million users in India. Given regulatory scrutiny towards cryptocurrencies in India, the platform will only accept fiat, not crypto, it said in a blog post.

Previous investors in Rario include venture capital firms Presight and Kingsway, as well as blockchain gaming major Animoca Brands.

Rario corners the cricket NFT market

The Singapore-based company claims to have the largest share of cricket NFT rights globally. It recently signed a multi-year, exclusive partnership with Cricket Australia and the Australian Cricketers’ Association.

The firm also has exclusive partnerships with 6 international cricket leagues, along with the rights to over 900 cricketers.

Rario said it has sold over 50,000 tokens since its launch, with the United States, UK, Australia and India being its top-four markets.

Ankit Wadhwa, co-founder of Rario, said that cricket is the second-largest sport in the world, with over 1.5 billion fans.

Cricket an untapped market?

While sports tokens are not a novel concept, the space has been largely dominated by basketball or football. The National Basketball Association (NBA) is one of the largest players in the sports NFT market, with its Top Shot NFT marketplace seeing sales of nearly $1 billion since its 2021 launch.

The NBA has also ventured into creating dynamic NFTs, although the project has met its own set of problems.

Several European football clubs also capitalized on the growing popularity of NFTs. English Liverpool recently launched a collection of hero-themed NFTs.

But cricket has not seen similar forays, despite the sport having massive followings across Asia, Australia and Africa. Rario could be poised to capitalize on this untapped market by offering cricket-themed collectibles.

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Ambar Warrick

With more than five years of experience covering global financial markets, Ambar intends to leverage this knowledge towards the rapidly expanding world of crypto and DeFi. His interest lies chiefly in finding how geopolitical developments can impact crypto markets, and what that could mean for your bitcoin holdings. When he isn't trawling through the web for the latest breaking news, you can find him playing videogames or watching Seinfeld reruns. You can reach him at [email protected]

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.