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Cricket-themed non-fungible token (NFT) platform Rario has confirmed the continuation of its reward program throughout the World Cup, regardless of its latest announcement about shutting down operations.
The extension of the reward program was communicated by a publish on X (Twitter), expressing gratitude for person assist and permitting them to proceed using their playing cards for enjoying, buying and selling, and successful prizes.
The publish additionally highlighted the introduction of recent prizes for the upcoming Indian T20 League and World Cup occasions.
This improvement adopted person complaints on January 24, 2024, relating to losses of their card values following Rario’s choice to stop platform operations from March 31, 2024.
Rario cited mismanagement, market downturns within the NFT sector, and regulatory uncertainties as causes for the closure, aligning with comparable choices made by different platforms comparable to GameStop and Aqua in 2023, in addition to Meta and X discontinuing their NFT options.
Rario, launched in 2021, skilled important development in 2022, securing a $120 million Sequence A funding spherical led by Dream Capital. The platform shortly dominated the worldwide cricket NFT rights panorama by unique partnerships with six worldwide cricket leagues and a roster of over 900 cricketers.
Nonetheless, 2023 witnessed a downturn within the NFT market in comparison with the strong development skilled in 2021 and 2022, the place the market reached $15.54 billion and roughly $1.47 billion, respectively.
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