Buyers have continued to dole out hundreds of thousands to crypto and NFT startups, and FanCraze is among the newest to obtain its share. The Movement-based NFT market for official cricket collectibles has raised $100 million in Collection A funding, Bloomberg reported on Friday.
As per the report, the spherical was led by B Capital Group and Perception Companions, with participation from South Korea’s Mirae Asset. Sources conversant in the matter additionally stated that worldwide soccer celebrity Cristiano Ronaldo was one of many buyers.
Co-founded by Stanford College alumnus and former funding banker Anshum Bhambri, FanCraze made its debut into the NFT area in 2021. The startup inked a take care of the Worldwide Cricket Council (ICC) to launch unique cricket NFTs on the Movement blockchain, the identical blockchain powering the favored NBA High Pictures collectibles.
Again in December, the corporate raised $17.4 million in seed funding led by Tiger International Administration, with participation from Coatue, Sequoia Capital India, and Dapper Labs. A month later, it launched its NFT market and launched its first pack of NFTs.
Talking of investments, NFT startups seem like the most well liked child on the block. In January, main NFT market OpenSea raised $300 million in a Collection C spherical led by Paradigm and Coatue. The corporate was valued at $13.3 billion, an enormous development from its $1.5 billion valuation simply six months earlier. Equally, Solana’s main NFT platform Magic Eden $27 million in Collection A a few week in the past.
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