What Is Cricket Foundation (CRIC)?
Cricket Foundation (CRIC) is a community-driven blockchain network exclusively for the cricket community. The network is run by more than one thousand partners spread all across the globe, including players, boards, fans, game developers, clubs, academies, equipment manufacturers, and practically any person who wishes to play a part in the network. Besides bringing the sport of cricket and cryptocurrency together, Cricket Foundation aims to develop multiple applications to empower the platform. Hence, the platform is specifically designed to reward all partners and add value to the platform by gathering revenues from various applications. Some of the applications include merchandising, ticketing, digital collectibles, eSports, auctions, endorsements, and many more. Further, Cricket Foundation aims to stand out as a reliable global intermediary for everything cricket, ruling out the need for mediators, brokers, and red tape.
Powering the Cricket Foundation is the Cricket token or CRIC. The token seeks to function as a primary medium of exchange within the ecosystem. CRIC is distributed as a reward among all participants in the blockchain network, including ecosystem owners, supporters, and influencers. However, Cricket Foundation rewards the platform's early adopters with substantial grants. Moreover, the token aims to function as a medium of governance, allowing participants to interact and decide the rules, value, and future roadmap of a democratic, decentralized platform.
The Cricket Foundation relies on a Proof of Stake (PoS) mechanism and is innately inflationary. This means that platform seeks to eliminate the Cricket Foundation tokens present in circulation with time to increase the demand. The platform conducts buy-back programs to pull out the crypto-coins from circulation and use the tokens to increase the value of the ecosystem. Also, Cricket Foundation plans to encourage revenue contributions, suggesting that all applications donate a certain part of the collections towards the value building of the Cricket ecosystem. The platform envisions featuring Zebi coins (ZPB) as an additional utility token. ZPB is a secure governance token introduced by Zebi, a full-stack blockchain company.
As its website mentions, Cricket Foundation launches a unique NFT marketplace, CricketCrazy. The marketplace encourages users to purchase, trade, and play NFTs hassle-free.