• Loading stock data...
Friday, July 19, 2024
Join us this September for Tuned In Request to Attend

Cricket NFT Startup Backed By Ronaldo to Raise $100M

  • FanCraze, an online platform for trading officially-licensed digital cricket collectibles, is raising $100 million.
  • The platform's investors include soccer star Cristiano Ronaldo.
FanCraze-Cricket-NFT
ICC/Design: Alex Brooks

FanCraze, an online platform for trading officially-licensed digital cricket collectibles, is raising roughly $100 million in new funding with investors that include soccer star Cristiano Ronaldo, according to Bloomberg. 

Led by VC firms Insight Partners and B Capital Group, the Series A round is expected to be completed in the coming weeks and could see its size change as deliberations continue. 

Previously known as Faze Technologies, the platform has also attracted Mirae Asset Financial Group, a South Korea-based financial services company, as a potential investor. 

FanCraze is in its early stages but has solidified its footprint in the $44 billion NFT market. 

  • The platform launched its marketplace in January along with its first pack of NFTs.
  • It partnered with the International Cricket Council, the sport’s official governing body.
  • The platform creates its exclusive NFTs on the Flow blockchain. 

FanCraze’s latest fundraise follows a $17.4 million seed round in 2021 led by Tiger Global Management. The round included Coatue, Sequoia Capital India, and Dapper Labs.

Lucrative Market 

FanCraze adds to a growing list of NFT-related platforms raising capital. In January, Autograph —  an NFT startup co-founded by Tom Brady — raised $170 million in Series B funding.

A month later, Alchemy, the company that created software tools used to build NBA Top Shot, raised $200 million, valuing the startup at $10.2 billion — nearly triple its previous valuation.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The Mississippi Department of Human Services on Monday sued retired NFL quarterback Brett Favre along with several other people and businesses to try to recover millions of misspent welfare dollars that were intended to help some of the poorest people in the U.S.

Judge in Mississippi Welfare Case Boots Brett Favre’s Lead Lawyer

The judge wrote he had a ‘pattern and practice of delicate deception.’
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
April 13, 2024; Columbus, Ohio, USA; Ohio State Buckeyes wide receiver Emeka Egbuka (2) catches a pass for the scarlet team while defended by cornerback Jordan Hancock (7) of the grey team during the first half of the LifeSports Spring Game at Ohio Stadium on Saturday.

As NIL Turns Three, Collectives and Football Still Control the Industry

Collectives dominate NIL, and football makes up most of collective budgets.

Tom Brady Finally Got in the Fox Booth for a Football Game

He’ll be the network’s top NFL analyst this season, replacing Greg Olsen.
podcast thumbnail mobile
Front Office Sports Today

‘EA Sports College Football 25’: It’s More Than a Game

0:00

Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’
Oct 27, 2023; Sacramento, California, USA; A general of the Sacramento Kings logo on the court before the game against the Golden State Warriors at Golden 1 Center.

How Sports Went From Private Equity Punchline to Coveted Asset Class

Once an industry punchline, sports are now a coveted asset class.
DraftKings
February 16, 2024

DraftKings Trends Toward the Black, Buys Lottery App

The sports gambling giant continues to narrow its losses.
April 2, 2024

Silver Lake to Take Endeavor Private, Ending Tough Stock Market Run

Private equity giant Silver Lake is set to acquire the remaining shares it didn’t already own.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
Exterior of Nike Company Store
February 16, 2024

Nike to Lay Off 2% of Its Workforce in Cost-Savings Effort

The sportswear giant hinted at staff cuts in a December earnings call.
February 7, 2024

ESPN DTC to Debut by Fall 2025, but Streaming Alliance Hastens Market Entry

Date set for stand-alone version of network, but new joint venture will beat that by a year.
January 22, 2024

They Make Sports Balls—and They Could Be Worth Almost $9 Billion

Amer Sports looks to raise as much as $1.8 billion in the public markets.
A view of a FanDuel sportsbook location.
January 18, 2024

FanDuel Strengthens U.S. Dominance Ahead of NYSE Debut

Flutter posts strong financial results as NYSE shares are set to debut Jan. 29.