Rario is Polygon Studios’ first NFT project since the studio was announced earlier this week. Rario will focus on promoting cricket NFT to some 2.5 billion people around the world.
Polygon Studios Launches NFT Project in Cricket First
Ethereum-based project Polygon is launching Polygon Studios, a development arm that is going to help the company to bridge the gap between Web 2 and Web 3 gaming. Revealed on Monday, the studio will focus on both blockchain gaming and non-fungible tokens.
Following in the footsteps of companies such as Dapper Labs, known for its work on NBA Top Shot, Polygon Studios will try to attract big brands and sign various NFT (non-fungible token) partnerships. According to the company, there are at least 100,000 active gamers on the network who interact with various titles through 500 decentralized apps already.
In light of this announcement, Polygon Studios has already revealed its first project. Rario is an officially licensed cricket NFT marketplace that will collaborate with the Caribbean Premier League and the Lanka Premier League to reach a potential audience of 2.5 billion fans around the world.
Rario is also teaming up with South African cricket star Faf Du Plesis and Indian cricketer Zaheer Khan, both of who are prominent members of the sports. By the looks of it, Rario is attempting to combine two individual product offerings in itself.
More Opportunities for Blockchain Gaming and NFTs
On the one hand, it seems interested in emulating the Dapper Labs model, with NBA Top Shot amassing some $700 million in sales. Yet, Polygon Studios emulates Socios.com, a global marketplace where consumers can purchase fan tokens and weigh in the decision-making process of various clubs. Polygon studios co-founder Sandeep Nailwal said that Rario is laying down the foundations of digital collectibles.
According to him, these new types of assets were “the most prized asset for sports fans in India and across the world.” Polygon Gaming Studios will also seek to help other developers create blockchain-powered gaming experiences, as well as continue to tackle some of Ethereum’s main problems, which include high transaction fees and network congestion.
Polygon received an undisclosed investment by investor Mark Cuban, who has been a strong proponent of cryptocurrencies and the blockchain sector and has made numerous investors across the market. He recently invested in TITAN, a stablecoin that was reduced to 0 overnight and left investors out of money.