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An Indian based startup FanCraze has signed a multi-year partnership with ICC, the world cricket governing body to bring some of the memorable events of the game back to life in a form of NFTs, Non Fungible Tokens.
The ICC has given FanCraze a huge archive of videos and pictures that will be turned into NFT or Crictos projects.
FanCraze founder and CEO Anshum Bhambri in an interview with TechCrunch, he said,“I have been a big cricket fan all my life, as most Indians are. As an NRI, watching the same YouTube videos again and again has given me great comfort and solace in the middle of sleepless nights. Those moments are invaluable not only to me, but to billions of people across the world.”
FanCraze CEO and founder Bhambri stays it was no brainer for ICC to sign a deal with his company because India a Mecca of cricket, people there they live and worship the game of cricket.
“ICC has given us the archive of video footage and still images that goes back 50 years to today. That archive and the rights to them always existed in big fat legal contracts. What NFTs have done is make those IPs liquid and trade-able by parsing them into small parts – 50-60 second videos and still images – that are now verifiably own-able and provably scarce due to blockchain technology, so that you can specify how many copies of a moment could exist and can prove who is the owner of each copy without having to rely on a third-party to verify the truth,” he said.
FanCraze also partner with individual former and current cricket players to create their iconic moment into NFTs. Some os those cricketers includes South African legend Jonty Rhodes, legendary ex spinner Muthiah Muralidaran and current stars like Ravichandran Ashwin and Jasprit Bumrah.
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