Cricket Foundation launches NFT marketplace

Hyderabad: Singapore-headquartered blockchain-based platform Cricket Foundation on Wednesday launched CricketCrazy.io, the world's first NFT (non-fungible token) marketplace exclusive for cricket.

The platform has about 50 unique moments from cricket history on the first day worth over $2,00,000. NFT is a unit of data stored on a digital ledger, called a blockchain that certifies a digital asset to be unique.

CricketCrazy.io will add about five NFTs of iconic moments daily, with over 20,000 cricket media assets such as photos, videos and other digital files, contributed by its various partners.

It also gamifies the entire experience and is announcing over 50 million Cricket (CRIC) tokens in reward pool for challenges that are played on the platform. The first challenge – Beginner's Luck went live on Wednesday.

The CRIC token was successfully listed on Indian and international crypto exchanges last week, with a market cap of over $200 million. It is the medium of transactions for all applications built on the platform and is core to maintaining the security and integrity of cricket block chain platform, apart from being used for the platform's governance.

Cricket Foundation also announced three new 'Play and Win Games' which are being co-developed with partners and being launched on the network next month.

Established in April 2021, it has signed over 120 partners from the cricket ecosystem, ranging from players, clubs, associations, business partners and game developers. The number of users on the platform exceeded 50,000 even before launch.

Pruthvi Rao, Co-Founder of Cricket Foundation said, "NFTs are one such application which allows, for the first time in history, for fans and collectors to collect digital media. There are many other applications ranging from gaming, e-sports, ticketing and merchandising, which will change the way traditional businesses are operated."

"Now, fans across the world will have access to the widest collection of cricket NFTs offering them a chance to own and represent the priceless moments. The marketplace will soon launch gamification experiences to fans and users as well creating a unique platform for fan engagement," added Atul Srivastava, Co-Founder – Cricket Foundation.

Cricket Foundation digitally connects the cricketing world together. While the NFT marketplace is its maiden offering, the vision is to eventually build several applications and uses within the platform meant for the cricket ecosystem powered by CRIC Token - like licensing rights management, fan tokens and auction endorsements apart from digital collectibles.