Anyone knows what happened at Rario? Founders leaving now.
The two founders of Rario, the cricket NFT startup in which India's Dream11 led a $120 million funding round last year, are leaving the firm...
https://techcrunch.com/2023/09/08/rario-dream11/
Web3 is just over. No web3 start-ups have good investable metrics to show anymore
Coy Lee
Stealth
a year ago
It's just a bear market affecting web2 as well. NFTs are still trading, blockchains still running. PMF is hard to find for products and platforms in an industry which is less than 20 years old and is evolving rapidly.
That's why blockchains and protocols get much more capital allocation.
I would disagree on that
With respect to Rario, I'd heard they'd been facing some compliance issues a while back. I think they probably went unresolved
I also think they probably overspent - complete speculation - but I don't see why they needed a 10 member ex - Uber legal team, they'd have cost QUITE a LOT
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Not making any money. Users in India are not ready to pay high ticket size for the confusing fantacy game.
