Faze Technologies Taking Live Cricket Entertainment to Another Level with NFT



Faze Technologies Taking Live Cricket Entertainment to Another Level with NFT

Faze Technologies Taking Live Cricket Entertainment to Another Level with NFT

December 8, 2021  Authorbet365baji

According to a reliable source, Faze Technology has secured $17.4 million in a seed round. This Mumbai-based company uses NFTs to allow fans to gather, utilise, play, and communicate with cricket sports and celebrities. A few well-known companies like Coatue Management, Sequoia Capital India, and Samsung Next are joining in the project.

The firm, established by Anshum Bhambri, Sundar Raman, and Kushagra Kohli, wants to use the capital to establish an NFT Marketplace, develop a user base, and employ workers across departments. Dapper Labs will also partner with the company in its development. Sundar Raman is also the former CEO of Reliance Sports and the founding COO of the Indian Premier League. Faze appears to be creating a cricket fandom metaverse. It also recently teamed up with the International Cricket Council (ICC) to develop exclusive digital collections of some of cricket's proudest achievements.

For the clueless, an NFT is a digital asset that represents real-world items or pieces of objects, such as art, music, in-game goods, and films. These, like any other object, may be purchased and sold online, and most NFT platforms are based on cryptocurrencies and tokens, as well as a blockchain network (usually Ethereum).

Besides trading NFTs, the Faze App will give users access to a variety of services and activities. This includes the latest material and an archive of historical events, as well as the ability to participate in in-match action, play interactive games, and engage with cricket superstars one-on-one.

The project is still in development, and the company intends to introduce a pre-launch pack drop. A pack drop is a random distribution of "rare" NFTs with undisclosed contents to the buyer. Faze will have six rarity tiers. They are known as Common, Rare, Epic, Legendary, Platinum, and Genesis.

It will also allow NFT purchases to be performed without the use of a crypto wallet, using a digital wallet, or a credit or debit card.

NFT supporters include Bollywood stars Amitabh Bachchan, Sunny Leone, Salman Khan, Suniel Shetty, and Kunal Kapoor. Former Indian cricketers like VVS Laxman, Zaheer Khan, and Veda Krishnamurthy are also on board. As a result, the NFT's popularity has piqued the interest of the average citizen across the nation.

Faze will contend with CricketCrazy.io in the cricket-centric NFT marketplaces, which offers cricketer-owned game moments from throughout history.

Likewise, DraftKings, an American fantasy sports and betting startup has partnered with Polygon to promote NFT and Web3 adoption through the DraftKings Marketplace.