Former Indian opening batsman Virender Sehwag has become the latest cricketer to join the non-fungible token (NFT) bandwagon. He has signed up with NFT platform Rario -- the world's first officially licensed cricket digital collectibles platform that enables fans to buy and trade NFTs not only of cricketers but also international leagues.
The partnership gives Rario the exclusive opportunity to leverage Sehwag's finest cricketing moments in the form of NFTs. "With this partnership, we will be exclusively launching Virender Sehwag's NFT videos, cards and memorabilia - must-haves for his millions of fans and followers," said Ankit Wadhwa, CEO and co-founder of Rario.
Speaking about the partnership, Sehwag said, "Until a few years ago, one couldn't have imagined it would be possible for fans to do more than watch the game from the stands or on television. With NFTs, they can participate and own historical moments in cricket, which is incredible. I believe this is a great step for me to be closer to my fans."
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He also tweeted: "Virupanti in the Rario Cricket Metaverse. I am excited to announce that I have entered into an exclusive partnership with @rariohq. Tell me about your favourite Viru Moment."
Earlier in 2021, Rario signed up Zaheer Khan, Rishabh Pant, Smriti Mandhana, Shafali Verma, AB De Villiers, Shakib Al Hassan and Faf du Plessis. It also took the exclusive NFT rights for the Caribbean Premier League, T10 and Lanka Premier League. Signifying the growing popularity of cricket NFTs globally, Rario's previous pack drops have seen a tremendous fan response, with a Caribbean Premier League pack selling out within two hours from its launch.
What are NFTs?
An NFT is a digital asset that represents real world objects such as art, music, videos, in-game items, etc. It is bought and sold online mostly with cryptocurrencies. It's generally encoded with the same underlying software as many cryptos -- blockchain. NFTs are tracked on blockchain to provide the buyer proof of ownership. Once an NFT sells, the creator receives an amount in the form of cryptocurrency.
While cryptocurrencies can be exchanged and/or transferred to one another, NFTs are unique and cannot be exchanged with another item. NFT allows the buyer to own an original item. It contains in-built authentication, which serves as proof of ownership. This makes them highly collectible.
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