April 13, 2020
By Anjali Kochhar
Australian cricket has announced a step into the world of non-fungible tokens (NFTs), adding to the already booming sports NFT industry.
Cricket Australia (CA) and the Australian Cricketers Association (ACA) announced in a tweet Wednesday the signing of a multi-year licensing deal with Singapore-based collectibles platform Rario and NFT trading company BlockTrust, which will enable cricket lovers to collect and trade NFTs of some of the most memorable cricketing moments on Australian soil.
The deal between CA and the ACA will see the revenue of Australian cricket NFTs shared between players and Cricket Australia, although specifics of the agreement have not been shared publicly.
“The partnership will support the growth of the game along with supporting past and present players through their historic achievements being featured in NFT moments,” the official statement read.
As per the official website, users can collect NFTs of historical moments created by players including Aaron Finch, Pat Cummins, and Marnus Labuschagne, among others.
“We are excited to step into the metaverse with our partners Rario, BlockTrust and the Australian Cricketers’ Association for this historic deal, which will open up huge opportunities for innovation and fan engagement,” Cricket Australia CEO, Nick Hockley, said in the statement.
Todd Greenberg, CEO of Australian Cricket Association said, “This is an exciting opportunity for Australian cricket, and this has been reflected in the cooperative spirit that the ACA and Cricket Australia have partnered with Rario.”
NFTs are trackable digital assets that cannot be altered, with their scarcity giving them value. Through sports NFTs, collectors can view official broadcast vision and commentary.
Deloitte has predicted that sports NFTs will generate around $2.7 billion globally this year. Sports like basketball, Formula One and football are getting into the NFT space.
Image Courtesy: Wikimedia commons
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.