Faze Technologies, founded by Anshum Bhambri, Sundar Raman and Kushagra Kohli, has raised $17.4 million in a seed funding round. The team has entered into an agreement with the International Cricket Council to release an exclusive NFT series centered on the sport of cricket.
Sequoia Capital India, Coatue, Tiger Global, Dapper Labs, Samsung Next and Courtside participated in the seed round.
Faze Technologies is looking to leverage the 1 billion cricket lovers across the globe and they are looking to have more engagement with some of the greatest moments in cricketing history. According to Bhambri, Faze Technologies aims to create a meta-universe for cricket by combining unforgeable tokens (NFTs), games, financial tools and priceless experiences in one digital place.
Faze plans to drop NFTs in the coming weeks.According to the ICC website, its substantial catalogue of great moments in cricketing history, combined with the latest technology from the Flow blockchain, will allow fans to collect NFTs for some of the ICC’s most popular shots, catches and wickets.
Cryptocurrency becomes visible in the world of cricket
In October 2021, ICC partnered with global cryptocurrency exchange FTX for a multi-year deal.The ICC Men’s T20 World Cup is underway and FTX’s commercial implant will be broadcast throughout the finals. Men’s Cricket World Cup in India.FTX will be present at all major ICC events for the next two years and is the official cryptocurrency partner.
Finn Bradshaw of ICC Digital conveyed the cricketing body’s delight at the transition from trading cards to video NFT, where fans can own much-loved plays from the ICC’s major events.
Dapper Labs plays key role in sports NFTs
Dapper Labs’ flagship sports NFT project, called NBA Top Shots, sells videos of the most memorable footage in NBA history as NFTs. In the wake of this, the NBA launched a blockchain advisory group to explore potential uses for the technology.
Lakhani believes that blockchain and user-centric design can work together to create a unique experience for digital native consumers. The CEO said that cricket NFT purchases can be made directly through a mobile wallet, or credit/debit card, without the need for a cryptocurrency wallet.