Digital Collectibles Company FranCraze Secures $100M in Funding Led by Insight Partners | AsiaTechDaily

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fancrazeIndia-based next-generation digital collectibles (NFT) company, announced that it has raised $100 million in Series A funding.

The newly raised capital will be used to fund FanCraze’s continued expansion of its metaverse across the cricketing landscape for current and emerging partners. The funding round was led by Insight Partners, a New York-based global private equity and venture capital firm, with participation from B Capital. Additionally, Mirae Financial, Tiger Global, Coatue Management, Sequoia Capital India, Courtside Ventures and CR7, SA (owned by Cristiano Ronaldo) also invested in the round.

FanCraze is building the official International Cricket Council NFT ecosystem to deepen fans’ love for the sport. FanCraze plans to use the new funds to integrate new sports relationships and accelerate the growth of its global team and capabilities in its R&D lab, user experience team, game studio and marketplace platform where fans can buy, trade and craft their NFTs.

The funds will also be used to scale the company’s engineering, marketing and customer success teams as the company expands its technology-centric offering to create the overall fan experience. The company’s current partners include the ICC, Cricket West Indies (CWI) and a number of notable cricketers including Rohit Sharma, Jasprit Bumrah, Muthiah Muralidaran, Jonty Rhodes, Shikhar Dhawan, Andre Russell, Ravichandran Ashwin and Yuzvendra Shahal.

“NFTs are fast becoming a movement and enabling a direct relationship between all types of IP owners and their fans. NFTs represent culture and FanCraze is building an experience that would allow fans to collect cricket NFTs, engage with games and gaming utilities to earn, and to own digital land,” said Anshum Bhambri, CEO of FanCraze.

“FanCraze Marketplace went live in early February and has already seen millions of dollars in revenue while still in early beta. We are excited to continue partnering with major sports leagues around the world to engage fans across the next generation of sports assets as we together create the future of fandom in the metaverse,” he added.

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