Non-fungible token (NFT) marketplace developer FanCraze is raising nearly $100 million (about Rs 760 crore) in new funding with investors reportedly including global football icon Cristiano Ronaldo. The Series A round, led by venture capital firms Insight Partners and B Capital Group, is expected to be completed in the coming weeks and may see a change in size over time. FanCraze, formerly known as Faze Technologies, has also included South Korea-based financial services company Mirae Asset Financial Group as a potential investor.
One of Bloomberg Report As of now, a set approach for funding has yet to be made official by FanCraze or the companies involved in the funding round.
Founded in 2021, FanCraze was founded by Anshum Bhambri, a Stanford University alumnus and former investment banker, and two others.
The company’s journey begins after creating Digital Cricket Collectibles in collaboration with the International Cricket Council (ICC) to develop the Cricket NFT marketplace. This happened with the landing of $17.4 million (about Rs 132 crore) in a seed fundraising round from FanCraze.
One on Dapper’s website press release revealed that the $17.4 million (about Rs 132 crore) raised in seed funding was led by Tiger Global Management, with participation from Coatue and Sequoia Capital India and Dapper Labs last year.
As reported by CoinDesk, Fancrase CEO Anshum Bhambri has said at that time That the company’s mission is “Creating the Metaverse of Cricket”. The platform is built on Flow. This is the same blockchain network that runs NBA Top Shot.
of the company Website As per reports, FanCraze launched its first pack of NFTs in the market in January. They capture some of the most popular moments of the NFT game, including MS Dhoni leading India to victory with a six at the Wankhede Stadium in the 2011 World Cup, South Africa’s fumble against Australia, Yuvraj Singh’s unforgettable six and the 2003 World Cup. Involves the ball being thrown out of the park by Sachin Tendulkar against Pakistan.