Tiger Global led a $17.4 million seed round for Faze Technologies, the company announced Wednesday.
Faze, a startup that creates digital collectibles, also announced its partnership with the International Cricket Council (ICC) to launch a cricket non-fungible token (NFT) marketplace on the Flow blockchain, where NBA Top Shot captured mainstream attention earlier this year.
Faze CEO Anshum Bhambri said in a press release he hopes to use the partnership “to build the metaverse for cricket.”
Flow builder Dapper Labs, major Dapper backer Coatue, Sequoia Capital India, Samsung Next, Courtside Ventures and Sacramento Kings owner Vivek Ranadive also invested in the round.
Faze’s cricket marketplace will mimic Top Shot’s use of present-day and historical moments in the sport, the company said in a press release. It also plans to build a “play-to-earn universe” involving the “battling of NFTs.”
It’s not the first cricket NFT platform to hit the market. Polygon-based Rario launched in August with a pair of cricket leagues signed on.
“We’re excited to be partnering with Faze to launch the ultimate cricket fan experience with the ICC on Flow,” Dapper Labs CEO Roham Gharegozlou said in a press release. “With over one billion cricket fans across ICC’s 105 member nations, Faze is revolutionizing how cricket fans everywhere connect and engage with some of the greatest moments in cricket history.”
Dapper Labs announced a $250 million funding round in September at a $7.6 billion valuation.
Source: Coin Desk