Australia Cricket (CA) and the Australian Cricketers Association (ACA) have entered into a multi-year licensing agreement with the Singapore-based collectibles platform Rario and non-fungible token (NFT) trading company Block trust.
The collaboration, which allows fans to own and trade NFTs of “some of the country’s most memorable cricketing moments”, is Australian cricket’s first step into the expanding world of NFTs.
“We are thrilled to enter the metaverse with our partners Rario, BlockTrust and the Australian Cricketers’ Association for this historic agreement, which will open up tremendous opportunities for innovation and fan engagement,” commented the CEO of Australian Cricket, Nick Hockley.
“The game’s deep connection to its past, the passion of our fans and the appeal of Australian cricketers to a global audience means that the incorporation of NFTs is another way for fans around the world to engage and to be part of the sport.
“This is just the beginning and I am confident we will see huge benefits for fans, players and the sport itself as we build this exciting partnership.”
The collaboration will see Australian cricket NFT revenue shared between players (past and present) and Cricket Australia, although details of the deal have not been shared publicly.
Todd GreenbergACA CEO added: “This is an exciting opportunity for Australian cricket, and it has been reflected in the spirit of cooperation between the ACA and Cricket Australia with Rario.
“Once you start to learn more about NFT, you quickly realize that the opportunities for engagement between players past and present with fans are enormous. We all look forward to bringing this program to life in the months to come. with new and innovative concepts.
The partners also said they are committed to ensuring that the NFTs are produced in a sustainable way. Rario uses the Polygon blockchain, an Ethereum-enabled sidechain, to manufacture NFTs, which the company explained translates to more eco-friendliness and dramatically lower carbon emissions.
Rario is cricket’s first officially licensed digital collectibles platform, and has other agreements with the Caribbean Premier League (CPL) as well as tournaments in the United Arab Emirates and Sri Lanka, and supported Aaron Finch and Faf Du Plessis as brand ambassadors.