Faze Technologies, founded by Anshum Bhambri, Sundar Raman, and Kushagra Kohli, has raised $17.4M in a seed-funding round. The team has landed a deal with the Internation Cricket Council to release an exclusive NFT series centered around the sport.
Sequoia Capital India, Coatue, Tiger Global, Dapper Labs, Samsung Next, and Courtside participated in the seed round.
Faze Technologies is looking to capitalize on the one billion cricket fans around the globe, who are seeking greater engagement with some of the greatest moments in cricket history. According to Bhambri, the aim of Faze Technologies is to create a metaverse for cricket, by combining non-fungible tokens (NFT), gaming, financial utilities, and priceless experiences in one digital place.
Faze plans to drop NFTs in the next few weeks. According to the ICC website, its substantive catalog of great moments in cricket history, combined with the latest technology on the Flow blockchain, will allow fans to collect NFTs of some of the most popular shots, catches, and wickets from ICC.
Crypto becoming visible in the cricket world
In October 2021, the ICC partnered with the global cryptocurrency exchange FTX in a multi-year deal. At the time of press, the ICC Men’s T20 World Cup is taking place, and FTX commercial placements will be broadcast throughout the finals. Men’s Cricket World Cup in India. FTX will be seen in all major ICC events for the next two years and is the official cryptocurrency partner.
Finn Bradshaw of the ICC’s digital department conveyed the cricket body’s delight at making the transition from trading cards to video NFTs, where fans can own much-loved plays from ICC marquee events.
Dapper Labs playing pivotal role in sports NFTs
Dapper Labs‘ flagship sports NFT project, called NBA Top Shots, sells videos of the most memorable shots in NBA history as NFTs. In the wake of this, the NBA launched a blockchain advisory group to explore the potential uses of the technology.
Lakhani believes that blockchains and user-centric design can come together to create unique experiences for digitally native consumers. The CEO has said that cricket NFT purchases can be made directly via a mobile wallet, or a credit/debit card without the need for a crypto wallet.
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