The Founders Of NFT Startup Rario Leave The Company

By
Tana Harina

09/08/2023

4,5

★

Just two years after its launch, Polygon-based NFT startup Rario lost its two founders.

CEO Ankit Wadhwa and chief technology officer Sunny Bhanot have been forced out due to pressure from larger investors. In addition, fantasy sports platform and Rario's main sponsor Dream11 is also stepping down.

Rario received $120 million from Dream11 last year. The changes come as Dream Sports' parent company is reviewing the company's spending. To do so, it is in talks with other companies that Rario has previously formed partnerships with.

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It is also known that Dream11 will continue to make cuts as part of the restructuring. Rario's sponsors include Alpha Wave Global and cricket legend Sachin Tendulkar.

The Rario platform specializes in NFT cricket cards. It had earlier claimed to be the largest NFT platform for the sport. So far, it has sold 50,000 NFTs to sports enthusiasts in 20 countries.

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