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Cricket NFT marketplace FanCraze raises $100M in Series A By BTC Peers

by Mike Robinson

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In Series A, FanCraze raises $100M for Cricket NFT Marketplace

Investors continue to give millions of dollars to NFT startup and crypto companies, with FanCraze being the latest. Bloomberg reports that the Flow-based NFT marketplace to collect official cricket items has received $100 million of Series A funding.

As per the report, the round was led by B Capital Group and Insight Partners, with participation from South Korea’s Mirae Asset. According to sources familiar with the matter, Cristiano Ronaldo, an international soccer star was also one of the investors.

FanCraze, a Stanford University alumni and ex-investment banker Anshum Bhambri founded it in 2021. In a partnership with the International Cricket Council, FanCraze launched exclusive cricket NFTs using the Flow blockchain. This blockchain powers the NBA Top Shots collectibles.

The company received seed funding of $17.4million from Tiger Global Management in December. It also had participation from Sequoia Capital India and Dapper Labs. It launched its NFT marketplace a month later and published its first NFT pack.

NFT startups are the hot new thing in investments. OpenSea was the NFT market leader and raised $300M in a Series B round, led by Paradigm. It was worth $13.3 billion, which is a significant increase from the $1.5 billion it had just six months ago. Similarly, Solana’s leading NFT platform Magic Eden $27 million in Series A about a week ago.

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