The year 2021 has witnessed an unprecedented boom in the non-fungible tokens (NFTs) market. Today, the market has exploded into a multi-billion dollar sector, and it has continued to attract more projects and players alike. Just recently, the Cricket Foundation, the world’s pioneer blockchain and crypto platform exclusively dedicated to the game of Cricket, announced the launch of its NFT marketplace known as CricketCrazy.io.
This is a pointer to the high performance and viability of the NFT industry. As the market continues to boom, we will have many more designated marketplaces and projects entering the market. Within the first half of 2021 alone, NFT market surpassed over $2.5 billion in sales. There is no doubt that the NFT market will hit new records as blockchain technology enjoy better transaction capacity and low gas fees.
What is CricketCrazy.io?
CricketCrazy.io is the first exclusive NFT marketplace for Cricket. It was launched via a virtual press conference hosted by its founding members like Parthiv Patel. Patel is a former Indian Cricketer and the incumbent talent scout for the Mumbai Indians. Other founding members include the likes of V.V.S. Laxman, Wasim Akram, R.P. Singh, Piyush Chawla, Veda Krishnamurthy, Pragyan Ojha, Lance Klusener, Shaun Tait, Rikki Clarke, Boria Majumdar, and a host of many others.
At its launch, CricketCrazy.io already has more than 50 unique moments from cricket history worth over $200,000. The Cricket NFT marketplace will add 5 NFTs, all selected from daily iconic moments. It will also have more than 20,000 cricket media assets in the library to choose from. These media assets are all contributed by the various partners of the project.
Another interesting thing about the CricketCrazy.io NFT marketplace is that it gamifies the entire experience. The team announced that there would be over 50 million CRIC in reward pools for every challenge that is played on the platform. The first challenge, Beginner’s Luck, has already been launched on the platform. There are currently 3 new cricket “play and Win Games” under development with the different partners and will be launched on the network in October.
According to Parthiv Patel, one of the founders, “It is a novel way for us to engage with our fans; CricketCrazy presents a unique digital offering to cricketers and franchisees to enhance their reach as well as the relationship with fans by giving them a sense of belonging, involving them in community decisions, and keeping them engaged with the game. For the fans, NFTs are the only way to own digital sports assets and collectibles provably.”
Overview of the Cricket Foundation
The Cricket Foundation is the cricket ecosystem that is exclusively built for the token age and is headquartered in Singapore. It is the first blockchain and crypto ecosystem in the world that caters to Cricket sports. Since its creation, Cricket Foundation had had over 120 partners, more than 100,000 followers, and a $200+ million market cap when it went live. The foundation connects the cricketing world digitally. The goal of the Cricket Foundation is to create several applications within its ecosystem and powered by the CRIC token.
Before its official launch, the number of users went above 50,000. The Cricket Token (CRIC) has been successfully listed on both Indian and international crypto exchanges. The token is the medium of exchange for every application built on the Cricket Foundation ecosystem. It is also integral to ensuring the security and integrity of the entire platform, aside from being used as the governance token for the platform.
According to one of its Co-founder Pruthvi Rao, “The Cricket Foundation is a layer 1 technology, meaning it can host multiple applications that are built on top of it. NFTs is one such application that allows fans and collectors to collect digital media for the first time in history. Many other applications range from gaming, esports, ticketing, merchandising, etc., which are already being built on this, which will change the way traditional businesses are operated. Zebi, along with Smart Cricket, which worked on this opportunity as early as 2018, is proud to be one of the key contributors to this project.”
Crypto expert and cricket Foundation co-founder Sunil Sharma when asked about the future of NFTs, said, “NFT sales surpassed $2.5 billion in sales in just the first half of 2021. As Blockchain technology becomes better in terms of gas fees and transaction capacity, we will see exponential growth in NFT Markets.”