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Ronaldo’s Cricket NFT Startup Raises $100M

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According to Bloomberg, FanCraze, an online marketplace for legally licenced digital cricket souvenirs, has raised around $100 million in additional investment.

The Series A investment, led by Insight Partners and B Capital Group, is scheduled to close in the coming weeks, but its size may alter.

Previously known as Faze Technologies, the platform has drawn the attention of South Korean financial services firm Mirae Asset Financial Group.

FanCraze is a newcomer to the $44 billion NFT business.

The platform launched its marketplace and first NFT pack in January.
Officially, it teamed up with the International Cricket Council.
The platform develops its own NFTs on Flow.
Tiger Global Management led a $17.4 million seed round in 2021 for FanCraze. Coatue, Sequoia India, and Dapper Labs participated.

It joins a growing number of NFT platforms raising funds. In January, Tom Brady’s NFT startup Autograph earned $170 million in Series B investment.

Within a month, Alchemy, which developed the software tools for NBA Top Shot, raised $200 million, roughly double its prior valuation.

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