Indian tech startup Rario is set to launch the world’s first cricket-based non-fungible tokens (NFTs) on August 15, well ahead of the Twenty20 World Cup scheduled for October-November.
Subcontinental business website The Economic Times reports that Rario has already secured the Lanka Premier League Twenty20 competition as a partner and is in negotiations with three more major leagues.
Rario claims it has initially signed male and female players from India, South Africa and Bangladesh to offer their digital collectibles to fans. Big names cited include former India fast bowler and official Rario ambassador Zaheer Khan, South African batsmen AB de Villiers and Faf du Plessis, plus Smriti Mandhana, a star of India’s women’s team.
Other Players, Leagues and Cricket Boards To Be Announced
Rario co-founder Ankit Wadhwa told The Economic Times: “We are in the process of signing [other] players, leagues and cricket boards. We are trying to create an ecosystem before making it a global play.”
We are living in a mobile-first world and all our interactions are primarily digital; we buy, sell and help each other online but fandom is still predominantly offline. Rario aims to change all that.
Ankit Wadhwa, Rario founder
The Rario move makes cricket the latest sport to leap aboard the NFT bandwagon. It comes after the International Cricket Council (ICC) invited companies to express interest in developing and launching a digital collectibles platform for cricket fans globally.
Other sports such as the National Basketball Association, Major League Baseball, and Formula One teams Red Bull and McLaren have their own NFT agreements in a collectibles market now worth over US$2.5 billion and rising.
The Rario platform will not only issue digital collectibles, but also offer games and a marketplace for fans to trade their assets.
No doubt Rario will find a foothold in a cricket-mad market such as Australia, which has already shown keen interest in sports trading cards, as reported by Crypto News last month.
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