Cricket Australia (CA) and the Australian Cricketers Association (ACA) have formed a multi-year licensing deal with Singapore-based collectibles platform Rario and Non-Fungible Token (NFT) trading company BlockTrust.
The collaboration, which allows fans to own and trade NFTs of ‘some of the most memorable cricketing moments’ in the country, is Australian cricket’s first move into the expanding world of NFTs.
“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,” commented Cricket Australia CEO, Nick Hockley.
“The game’s deep connection with its past, the passion of our fans and the appeal of Australian cricketers to a global audience, means the incorporation of NFTs is another way that fans across the world can engage and be part of the sport.
“This is just the start and I have no doubt we will see enormous benefit for fans, players and the sport itself as we build this exciting partnership.”
The collaboration will see the revenue of Australian cricket NFTs shared between players (past and present) and Cricket Australia, although specifics of the agreement have not been shared publicly.
Todd Greenberg, CEO of the ACA added: “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.
“Once you begin to learn about NFTs you soon understand the engagement possibilities between past and present players with fans are huge. We all look forward to bringing this program to life in the coming months with new and innovative concepts.”
The partners have also stated that they are committed to NFTs being produced in a sustainable manner. Rario uses Polygon blockchain, an Ethereum compatible side-chain, to mint NFTs which, the firm explained, translates to more eco-friendliness and considerably fewer carbon emissions.
Rario is cricket’s first officially licensed digital collectibles platform, and has further deals with the Caribbean Premier League (CPL) as well as tournaments in the UAE and Sri Lanka, and has taken on Aaron Finch and Faf Du Plessis as brand ambassadors.