This is a guest post from the FanCraze team.
FanCraze and the ICC have teamed up to create ICC Crictos, a collection in which legendary moments and unforgettable plays become digital collectibles on Flow that users can own forever. Crictos are video NFTs from marquee ICC Events, sold via packs and that can be subsequently traded on a secondary peer-to-peer marketplace. Our vision is to further combine elements of play-to-earn gaming to allow users to craft NFTs using rewards earned via gameplay.
For the first time, cricket fans can participate in the digital economy of cricket, owning, trading, and using NFTs, while showcasing their fandom.
There are several reasons why this is a landmark event for the blockchain ecosystem in India. For starters, cricket has one of the largest fan followings in the region. Both the television and internet-based streaming services took off on the heels of live cricket allowing category leaders in both to acquire more users than their foreign counterparts due to their ability to make cricket accessible. Given FanCraze can access moments from a player across his lifetime from his first U-19 ICC World Cup to his last World Cup game, it can represent the player’s career over a longer period.
Finally, hearing from FanCraze’s brand ambassadors such as Rohit Sharma, Jasprit Bumrah, Andre Russell and 15 other leading cricketers, who are already trusted and well-reputed will create intrigue that conventional blockchain teams have not been able to build so far.
FanCraze is founded by Wall Street veteran Anshum Bhambri, founding operating chief of the Indian Premier League and former Reliance Sports CEO Sundar Raman, and serial entrepreneur Kushagra Kohli. We are a team of passionate builders with backgrounds in technology, sports, finance, and gaming. Our mission is to build the metaverse for cricket - a platform for fans to collect, use, play and interact with cricket through nonfungible tokens.
Users can:
- Build a Collection: Putting together a complete collection is an amazing achievement. A collection is a curated themed group of NFTs or stills that share some common characteristics (Sixes, Fours, Catches, Batters, Bowlers, T20 WC etc.)
- Trade with Friends: Users can trade NFTs with friends from around the world within minutes. Thanks to Flow, they can securely transfer ownership of a NFT to anyone else at any time.
- In-Game Value: In addition to the underlying collectible appeal and intrinsic value, these NFTs can be used in various applications and play-to-earn games which will be developed over time in the FanCraze Metaverse.
- Real-World Utilities: Through ownership of NFTs, fans can win once-in-a-lifetime experiences. Think about getting to view that much-awaited ICC World Cup Final match from a VIP spot in the hospitality box, or interacting with your favorite cricketer one-on-one!
There are four active tiers of FanCraze NFTs based on rarity, ranging from the collectible Common tier to the ultra-scarce Legendary tier. Two more tiers, Platinum and Genesis, will also be launched in the future. These are the greatest and most rare NFTs in the system. The value of each NFT will be determined by its rarity, its status or signaling value, and the utility value of the NFT metadata in soon to be launched games.
A user can buy NFT’s either by registering for the pack drops, or via the P2P marketplace from another user using INR or USD.
The NFTs purchased by the users will be held in the FanCraze Wallet. The FanCraze wallet is a custodial wallet with the ability to allow purchases with fiat currency via credit cards, online banking, and other localized on-ramps, as well as crypto assets that users may already hold in existing wallets.
Our website is live now, where fans can reserve a pack from the first-ever cricket NFT drop on FanCraze. At this time, our pack reservation window opens up for 48 hours and users can start reserving packs and adding funds to their FanCraze wallets. On January 27, the pack reservation window will close and the first packs will drop.
In case you are unable to get your hands on a pack during the drop, please come back on January 30, 2022 when our marketplace goes live! Users who were able to purchase a pack can list their NFTs for sale and those who missed out can start building their collection by buying NFTs listed by other users using their FanCraze balance.
Crypto purchases can be made using stable coins on Layer-1 blockchains such as Bitcoin, Ethereum Mainnet, Flow Network and Solana Network as well as Layer-2 blockchains such as Arbitrum and Polygon. We will add more options from various blockchains. The vision is for FanCraze to support purchases using whatever kind of currency users want - from fiat to crypto.
FanCraze’s model creates a new way for athletes and creators to engage with their fanbase. Athletes rarely ever see monetary gains even when platforms grow off the top of their fan engagements. Typically, fans don’t either. NFTs provide an alternative that allows a sports-star’s popularity to be monetized and traded on. Fans that follow the sport closely stand to benefit through ownership of these digital assets. FanCraze has built a mainstream-friendly wallet where users can buy NFTs using fiat currency without worrying about gas costs or transaction fees.
Why we love Flow
Building on Flow allows us to process transactions extremely quickly while also making the gas costs almost negligible. Flow is designed to support mainstream adoption which fits perfectly with our vision to engage with millions of cricket fans across the world. With Flow, we also have the flexibility to grow and evolve and constantly bring new experiences to our community.
Flow is home to similar cutting-edge experiences such as NBA TopShot, NFL AllDay, UFC Strike, and LaLigaOnFlow, and we’re bringing the next major sport to Web3. With Flow’s amazing roster of digital collectible and gaming experiences, the choice was a simple one.
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