Faze Technologies announced a $17.4 million seed round led by Tiger Global on Wednesday.
Faze also announced a collaboration with the International Cricket Council (ICC) to launch a cricket non-fungible token (NFT) marketplace on the Flow blockchain, where NBA Top Shot gained popularity earlier this year.
In a press release, Faze CEO Anshum Bhambri stated that the partnership will be used to “build the metaverse for cricket.”
Flow builder Dapper Labs, Coatue, Sequoia Capital India, SamsungNext, Courtside Ventures, and Sacramento Kings owner Vivek Ranadive have all invested.
According to a press release, Faze’s cricket marketplace will use current and historical moments in the same way that Top Shot does. It also intends to create a “play-to-earn universe” centered on the “battle of NFTs.”
It is not the first cricket NFT platform to be released on the market. Rario, a polygon-based game, debuted in August with two cricket leagues on board.
Bhambri appears to have developed a minimum viable product involving cricket NFTs on the Ethereum blockchain through an earlier project, Round Labs.
“We’re thrilled to be collaborating with Faze to launch the ultimate cricket fan experience with the ICC on Flow,” Dapper Labs CEO Roham Gharegozlou said in a statement. “With over one billion cricket fans across the ICC’s 105 member nations, Faze is revolutionizing how cricket fans around the world connect and engage with some of cricket’s greatest moments.”
In September, Dapper Labs announced a $250 million funding round at a $7.6 billion valuation.