Australian Cricket Team To Launch NFTs
The team makes its first official move in the crypto space by launching digital collectibles featuring some of the most iconic moments in Australian cricket.
NFT Win For Australian Cricket
NFTs or non-fungible tokens are digital collectibles that record ownership details in a tamper-proof online ledger on the blockchain. Many sporting teams and individuals have identified the value of these digital collectibles in enhancing the customer experience of their brands. The Australian cricket team is the latest sports team to join the NFT craze. The news was announced earlier today by Cricket Australia (CA) and the Australian Cricketers Association (ACA). The two organizations have signed a multi-year licensing deal with Singapore-based NFT platform Rario and NFT trading company BlockTrust. The collection is being dropped on the Polygon platform, with a focus on eco-friendliness and sustainability.
Cricket Fans Get NFT Options
Fans of cricket and the Australian team will be able to own and trade NFTs featuring some of the country's most cherishable cricketing moments. Unlike traditional sports collectibles, the digital ones can provide a more 360-degree fan experience, often including multiple modes of infotainment, like images, audio files, documentation, and video clips. Back in September 2021, global cricket fans were delighted to hear about the launch of Cricketcrazy.io, the world’s first NFT marketplace created exclusively for this sport. This initiative was also helmed by another Singapore-based firm, Cricket Foundation. This blockchain-based platform announced that it had partnered with over 120 prominent names from the industry, like VVS Laxman, Wasim Akram, and Lance Klusener, to launch this NFT marketplace.
CA Announces NFT Launch
Cricket Australia took to Twitter to announce the upcoming NFT collection, tweeting,
“The engagement possibilities include collectibles that introduce fans to the history of the game, gaming experiences where collectors play against each other, or trading card sets which act as visual coaching tools for new cricket fans. This historic collaboration between Cricket Australia and the ACA will assist the growth of the game, as well as support past and present players through their historic achievements being featured as NFTs.”
The announcement clarifies that other than being tools of information highlighting key moments from Australian cricket, the NFTs will also allow owners to play off of each other and trade cards. Furthermore, the tokens will also allow owners to unlock a world of cricketing apps and experiences with the Rario Club. The revenue earned from the NFT sale will be shared with the players, although distribution percentages have not been revealed yet. Some of the most prominent names of Australian cricket being featured in this collection are Aaron Finch, Marnus Labuschagne.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Square, Cash App, TIDAL, and TBD54566975 Now Have A New Name: Block
Hot on the heels of Jack Dorsey’s exit from Twitter, Square Inc. (NYSE: SQ) announced today that it will be renamed to Block.
Block will be the new brand name representing Square and its linked businesses: Cash App, TIDAL, and TBD54566975 (TBD), all operating under Block as its primary corporate entity. Square’s previous Bitcoin-focused initiative, Square Crypto, will also receive a new name: Spiral.
We’re changing our company name so we can give the full @Square brand to our Seller business. So now we need a name to tie @Square, @CashApp, @TIDAL, and @TBD54566975 together into one. That name is “Block.” Why? https://t.co/vVSKNnMUU3
— Square (@Square) December 1, 2021
The reorganization will open a new phase for the businesses to operate as an integrated ecosystem of products and services. Since its inception in 2009 by Dorsey and Jim McKelvey, Square has grown to a major financial services company with over $90 billion in market capitalization.
“We built the Square brand for our Seller business, which is where it belongs,” shares Block co-founder and CEO Dorsey. “Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy,” he adds.
With the change in corporate nomenclature, one that’s reminiscent of Google turning into Alphabet, and Facebook turning into Meta, Square (now collectively known as Block) is effectively positioning to become a leading brand name in the overlapping sectors that its products and services serve. These business units would then be referred to as Block’s ‘building blocks,’ so to speak.
Square will remain as an entity for its Seller business, while Cash App will continue to offer its mobile payments service and crypto purchases, while TIDAL will be integrated into its blockchain services, perhaps (as a conjecture) in a similar method as Audius’ blockchain-based music streaming. TBD54566975 (TBD), on the other hand, has recently disclosed information about its upcoming decentralized exchange, with a whitepaper published just over a week ago.
According to an official press release from the firm, the legal name “Square, Inc.” will be changed to “Block, Inc.” by December 10th this year, while its ticker symbol for the New York Stock Exchange will remain unchanged as “SQ”.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
CricketCrazy.io Ropes In Former Cricketing Greats Laxman, Akram, And Klusener
Cricket Foundation, the blockchain-based platform from Singapore, has revealed that they have partnered with over 120 individuals from the cricketing space for the launch of their platform cricketcrazy.io., including legends such as VVS Laxman, Wasim Akram, and Lance Klusener.
Cricketcrazy.io is the world’s first NFT marketplace that has been created exclusively for cricket.
The Cricketcrazy.io Platform
The cricketcrazy.io platform has announced partnerships with several former players, associations, clubs, and developers. It has over 50,000 active users and a following of over 60,000 users on social media platforms.
The platform, which the Cricket Foundation is launching, will be going live with over 50 unique moments from cricketing history, which will be worth over $200,000. The platform will also be adding 5 NFTs every day from a growing library of cricketing media assets. Partners can voluntarily contribute to the library, and currently, it contains over 20,000 iconic moments from different points of cricketing history.
A New Way Of Engaging With Fans
Co-Founder of the Cricket Foundation and Former Indian Test Cricketer Parthiv Patel, while speaking at the virtual launch of the cricketcrazy.io platform, stated,
“It is a novel way for us to engage with our fans, CricketCrazy presents a unique digital offering to cricketers and franchisees to enhance their reach as well as the relationship with fans by giving them a sense of belonging, involving them in community decisions, and keeping them engaged with the game. For the fans, NFTs are the only way to own digital sports assets and collectibles.”
Patel also spoke about the importance of cricketers managing their finances better post-retirement due to their limited shelf life as professional cricketers and the role a platform like Cricket Foundation could play after retirement.
“You talk about say 35-36 (years of age), not many players actually go on to play till 40. So, you have to manage your finances as well. Once you are retired, it isn’t easy to get going with that same flow, so platforms like this (Cricket Foundation), if you can explore it, then you can sustain it throughout life. So finance is a very, very big part of any cricketers’ life now.”
The CRIC Token
The CRIC token is the native currency for the Cricket Blockchain platform and will be the primary medium of exchange and transactions between all applications built on it. The CRIC token is central to maintaining the integrity and the security of the blockchain while also acting as a governance token.
The CRIC token has been successfully listed on several Indian and International crypto exchanges and currently has a market cap of over $200 million.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.