Faze nft tiger

The scramble to bring NFTs to sports rolls on.

Faze Technologies announced Wednesday it had secured $17.4 million in seed funding from a bevy of heavy-hitting investors to bring cricket to the blockchain. Faze will partner with the International Cricket Council (ICC) to produce NFTs on Dapper Labs’ FLOW blockchain.

“We are in a unique position to combine NFTs, gaming, financial utilities, and money-can’t-buy experiences to create a platform for fans to collect, use, play, and interact with cricket through NFTs on Flow,” said Anshum Bhambri, CEO of Faze Technologies.

The funding round was led by Tiger Global with participation from Coatue and Sequoia Capital India.


Bhambri sees huge demand, particularly in cricket-mad India – he won’t say exactly how many people have pre-registered to buy packs, but suggests the numbers are large.

Importantly, this isn’t just about collecting. Each NFT will come with meta data embedded – perhaps related to the number of runs the player in the clip has scored, or the wickets taken, say – which will form the basis of a series of games that Faze plans to launch.
NFT owners will be able to take part in these games, planning their strategies on the basis of the strengths of their collections.

That could provide further demand on the secondary market, Bhambri points out, as people seek to add to their collections in order to play the games with greater success.

Faze nft 17.4m tiger

Faze has entered into a strategic partnership with Dapper Labs which is building similar experiences for sports leagues and federations across the globe.

“We’re excited to be partnering with Faze to launch the ultimate cricket fan experience with the ICC on Flow,” said Roham Gharegozlou, CEO of Dapper Labs. From NBA and WNBA to La Liga, NFL and UFC, we’re seeing sports fans across the globe adopt new dynamic fan-driven experiences on Flow, and I’m eager to see how cricket fans engage with NFTs,” Gharegozlou added.

Also read: Indian Ethereum platform Polygon to invest in Colexion – one of Asia’s largest NFT marketplaces

Shailesh Lakhani, MD, Sequoia India said, “We believe that blockchains and user-centric design can come together to make for never-before-seen social experiences for digitally-native consumers.

Faze nft tiger-

Today the International Cricket Council (ICC) announced that Faze Technologies will launch collectible trading cards and video non-fungible tokens (NFTs) for cricket. Additionally, Faze announced that it has received $17.4 million in funding from Tiger, Coatue, Sequoia and Dapper Labs.

Faze has partnered with Dapper to launch video moments on the Flow blockchain, similar to Dapper’s NBA Top Shot.

“Cricket has an outstanding track record of using technology to connect fans with our sport and this is our next evolution, from trading cards to video NFTs where fans can own their favourite plays from ICC events,” said Finn Bradshaw, ICC Head of Digital

Faze was co-founded by CEO Anshum Bhambri, a former investment banker with Bank of America and Credit Suisse.

The founders took part in Andreessen Horowitz’s inaugural Crypto Startup School.

Faze nft tiger-x

It wants to simplify cryptocurrency payments, and it built an infrastructure around that concept.

The company faces competition from a stampede of rivals, from freshman crypto businesses to established platforms like PayPal and Venmo. And it’s not clear if it worked out all the kinks. One account from a reporter in September noted a frustrating sign-up experience, with two of the user’s three credit cards flagged for fraud.

The crypto mania described by CB Insights and Pitchbook remains in full force.

Just two years after its launch, MoonPay emerged from its Series A round in November with $555 million in funding and a valuation of $3.4 billion.

Its approach may have something to do with that. Consumers can use credit cards, bank transfers or even mobile wallets like Apple Pay to buy and sell cryptocurrencies.

Faze nft tigerblood

For everyone else, simply understanding the terms may be an uphill battle, though.

But they must, if they want a stake in the new digital economy.

A quick primer: The foundation of this movement is blockchain, a technology that’s difficult, if nearly impossible, to fake because all transactions or movements are recorded in a shared ledger. The technology spawned digital money, or cryptocurrencies like bitcoin, as well as virtual goods via NFTs, which are bits of tokenized code tied to virtual valuables (and sometimes physical products).
Think exclusive 3D sneakers, one-of-a-kind electronic murals and other digital rarities.

NFT sales exploded this year, with individual fashion and art transactions nabbing millions and fueling monthly growth from $400 million in early 2021 to $2 billion, according to JPMorgan, resulting in a market that’s worth over $7 billion.

Those investors include Dapper Labs, on whose Flow blockchain the Faze community will sit – it’s a good fit, given that Dapper is currently building out similar ideas in sports such as basketball, football and martial arts.

Bhambri thinks Faze has the potential to transcend the kind of audience that has taken an interest in NFTs to date. “Cricket has a culture that goes so deep in countries such as India,” he says. “I see this as a way to teach a very large number of people about NFTs, play to earn and, ultimately,” the metaverse,” he says.

With funding in place and more than a year of development work behind it, Faze is now ready to go live. The first pack drops are scheduled to take place around Christmas, with the secondary trading market on Faze due to open in January, and other services, including new games, launching soon after.

NFTs, or Non-Fungible Tokens, of some of the greatest moments in the sport.

What is an NFT?

A non-fungible token is a unique digital asset, which can’t be interchanged and has verification of its authenticity. An NFT can be traded, but it can’t be copied or taken away; that digital asset belongs solely to one owner.

NFTs in this form are a collectible, just like a physical product, for fans to own at a value they are willing to pay.

How can a user buy the NFTs on Faze’s platform?

A user can either buy the NFTs on the marketplace from another user, or by registering for the pack drops.

What is a pack drop?

A pack drop is a pre-announced period during which fans can reserve the opportunity to get a pack, which are then randomly distributed among those who registered an interest.

Dapper Labs, Samsung Next and Courtside Ventures also participated in the round.

Faze has signed a partnership with the International Cricket Council (ICC) to create exclusive digital collectibles (using nonfungible tokens) for cricket to launch on the Flow blockchain. The company will drop its NFTs in the next few weeks and soon after launch a marketplace.

Read more: AriseBank CEO faces 120 years behind bars over alleged cryptocurrency scam | ZDNet

NFTs are a type of crypto asset in which each token is entirely unique.
They can be used as a digital certificate of authenticity for any asset, digital or physical.

The startup is founded by Wall Street veteran

“Our mission is to build the metaverse for cricket.

We believe that blockchains and user-centric design can come together to make for never-before-seen social experiences for digitally-native consumers. The team at Faze is creating Web 3.0 products that are fun, a little bit crazy, and very compelling.

They are as simple to onboard and use as traditional Web 2.0 apps, which will enable mass appeal.”

Faze Technologies, a platform for fans to collect, habit, play and interact with cricket through nonfungible tokens, has raised $ 17.4 million ( Rs 130 crore ) in a seed-funding round, led by Tiger Global with participation from Coatue and Sequoia Capital India.Dapper Labs, Samsung Next and Courtside Ventures besides participated in the round.Faze has signed a partnership with the International Cricket Council ( ICC ) to create exclusive digital collectibles ( using nonfungible tokens ) for cricket to launch on the Flow blockchain.

Faze Technologies, a platform for fans to collect, use, play and interact with cricket through nonfungible tokens, has raised $17.4 million (Rs 130 crore) in a seed-funding round, led by Tiger Global with participation from Coatue and Sequoia Capital India.

Dapper Labs, Samsung Next and Courtside Ventures also participated in the round.

Faze has signed a partnership with the International Cricket Council (ICC) to create exclusive digital collectibles (using nonfungible tokens) for cricket to launch on the Flow blockchain. The company will drop its NFTs in the next few weeks and soon after launch a marketplace.

NFTs are a type of crypto asset in which each token is entirely unique.

They can be used as a digital certificate of authenticity for any asset, digital or physical.

Leave a Reply

Your email address will not be published.