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About Rario
Rario is a cricket-focused NFT minting and trading platform built on Polygon. Its core business involves issuing officially licensed digital collectible cards featuring cricketers and league moments, which users can buy, sell, and trade. The platform has secured licensing partnerships with major cricket leagues and player associations, giving it exclusive rights to mint cricket-related digital assets.
The platform's primary value proposition lies in its official licensing and cricket-specific vertical focus, which differentiates it from generic NFT marketplaces. It addresses the market pain point of fragmented, unauthorized cricket collectibles by offering a centralized, legally compliant venue for fans to own verifiable digital memorabilia, while also providing liquidity through its in-platform marketplace.
In the past six months, Rario has faced significant operational challenges. The company announced the wind-down of its existing platform, with plans to cease current operations and relaunch a new version. This transition has been marked by user concerns over asset value, as the company stated that existing cards would not carry over to the new platform. Rario has extended its reward program during this transition period, allowing users to continue using their cards for play and trading until the shutdown. The company has cited broader NFT market downturns and regulatory uncertainties as contributing factors to this strategic shift, reflecting a difficult period for the cricket NFT niche.
Founded in 2021, Rario emerged as a cricket NFT platform. In April 2022, it secured a $120 million Series A round led by Dream Capital, gaining access to Dream Sports' 140 million users, a pivotal step for global expansion. In early 2024, the company announced plans to shut down its existing product and relaunch a new platform in March, but later reversed this decision due to user feedback, opting to continue operations. These milestones highlight Rario's strategic pivots and resilience in the evolving NFT landscape.
Sunny Bhanot (Co-founder & CTO): Previously served as CTO at Rario. He is an IIT Delhi alumnus (2000-2005) with a B.Tech in Chemical Engineering. Prior to Rario, he held roles at companies like HT Media, Wadi.com, and Schoolnet India. He has expertise in technology leadership, software engineering, and product development.
Ankit Wadhwa (Co-founder & CEO): Previously served as CEO at Rario. He is an IIT Delhi alumnus (2000-2005) with a B.Tech in Chemical Engineering, and later earned an MBA from Wharton (2010-2012). He worked at McKinsey & Company as Engagement Manager, and co-founded Wadi.com (an e-commerce platform) where he held CEO and Managing Director roles. He has experience in strategy, business transformation, and venture capital.