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The cricket metaverse is an untapped field but not for long. FanCraze, founded by former IPL COO Sundar Raman, and Anshum Bhambri, is ready to provide fans of the game an opportunity to enter the virtual 3D world.
In basic terms, metaverse is a network of 3D virtual worlds focused on social connection. While Web2 gave us an insight into the world of the Internet, the metaverse is part of a larger Web3 strategy. Sporting events are already taking steps to adopt this new world, with the 2022 Australian Open providing a chance for fans to participate in the tennis metaverse.
However, cricket, which is a far more celebrated sport in the Indian subcontinent, could also churn out financial profits from entering this virtual world. To that end, FanCraze aims to enable fans of the game to do the same.
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FanCraze ready to tap into cricket metaverse with ICC alliance
Due to their exclusive partnership with the International Cricket Council (ICC), FanCraze is ready to roll out its official and authentic non-fungible tokens (NFT) or collectibles from the ICC archives – the entry path to the cricket metaverse.
These NFTs will be called ICC Crictos, and through them, fans of the sport can enter the cricket metaverse. On January 27, FanCraze had its first drop featuring 75 moments of the ICC Men's Cricket World Cup 2015 and 2019. For those who might have forgotten, the former trophy was lifted by the Australian national team before England won their maiden ICC World Cup a couple of years ago.
What kind of NFTs are available and how to buy them?
FanCraze NFTs are available through packs, and each pack will have a specific number of NFTs - to be detailed on the website.
There are four rarity tiers of NFTs within the packs, ranging from the ultra-scarce legendary tier to the widely common tier. For the first drop of Crictos, the FanCraze packs will be priced at $9, $49, and $249 (between INR 700 to INR 18,500) and are differentiated by the rarity of the Crictos and the number.
Fans can buy these NFTs using fiat currency without having to fret about gas costs or transaction fees by leveraging the power and accessibility of Flow blockchain.
On top of this, FanCraze has already partnered with several cricketing stars, including: Jonty Rhodes, Muttiah Muralitharan, Andre Russell, and the Indian contingent of Rohit Sharma, Ravinchandran Ashwin, Yuzvendra Chahal, Shikhar Dhawan, and Jasprit Bumrah.
FanCraze will allow fans to enter the cricket metaverse on January 30, 2022 by making the trading marketplace live on its website. Buying these NFTs will allow its owner to:
- Build a collection across a particular match or series, trade the NFTs with fans across the globe.
- Win an opportunity to interact with their favorite cricketers.
- Use the NFTs across upcoming apps and play-to-earn games to earn financial rewards in the FanCraze metaverse.
Finn Bradshaw, ICC Head of Digital, spoke about the first FanCraze drop a couple of weeks ago, saying:
“We are delighted to unveil Crictos today and are excited for our first pack drop later this month. Just as physical memorabilia has been a centerpiece of fandom for decades, we hope Crictos will become a digital record of fans’ love of the game. There is something for every fan with a range of rarities of Crictos with an entry pack costing $9."
FanCraze CEO Anshum Bhambri explained the NFTs in detail by saying:
“Crictos builds off the key features of physical trading cards by adding digital elements like video highlights, 3D animations, a wider array of player statistics, and meta-data that make the Crictos usable across a wide array of applications. Cricket fans today are digitally native and building new fan engagement and social experiences is what excites us at FanCraze.”
Financial potential of Cricket metaverse
The metaverse in itself has become a profitable venture for several investors. As per DappRadar, the total NFT volume in Q3 2021-22 was $10.7 billion, 700% more than the previous quarter. Additionally, there is also an average of 1.5 million active wallets daily, which is 25% up from the last quarter.
This growth has been aided by games such as Axie Infinity and collections like Cryptopunks. NBA top shot is also estimated at $14.2 billion.
Top Indian IT firms are also embedding various technologies to tap into the metaverse market, estimated to be a $8 trillion opportunity.
So there is no saying what kind of potential the cricket metaverse holds, especially given the craze around the sport. Moreover, since they are freely tradeable, it works as an investment opportunity, and FanCraze will be the first tech company to provide an entry into this world through cricket.
But this was bound to come after the $17.4 million seed round they raised, which was led by Tiger Global. This round also saw participation from Sequoia India, Coatue, and Dapper Labs, among others.
The cricket metaverse looks to be on course for a grand start at the end of this month as fans get the chance to buy niche collectibles and complete money-spinning trade deals.
