Dapper Labs received $ 305 million in a new fundraising round

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2021-04-01 06:42:21

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NBA Top Shot producer Dapper Labs, has received about $ 305 million in new round of fundraising from investors.

According to Business Insider, “NBA stars Michael Jordan, Alex Caruso, and Kevin Durant and giants like Chernin Corporation and Will Smith’s venture capital firm Dreamers VC have entered the fundraising round.”

In this latest fundraising round, Dapper Labs currently holds a valuation of $ 2.6 billion. According to the previous report, NBA Top Shot had generated $ 230 million in revenue as of the end of February.

According to a Dapper Labs spokesperson, “March transaction data showed that NBA Top Shot’s total revenue reached $ 483 million with over 802,000 users on the platform”.

“Indeed, the NBA Top Shot boom is part of the current concern surrounding the new wave of NFT”

Commenting on the success of NBA Top Shot and current NFT trends, Dapper Labs CEO Roham Gharegozlou commented:

“Obviously, NFT is a new trend in the market, and the success of NBA Top Shot is because it exploits the community of basketball fans… through NBA Top Shot people can connect with teams. and their favorite player ”

See also: What is Non Fungible Token (NFT)? Why is the NFT so special

Dapper Labs is looking to expand into areas other than basketball, Gharegozlou said. In February 2020, Dapper Labs signed an agreement with general martial arts promoter Ultimate Fighting Championship (UFC).

Dapper Labs also created CryptoKitties, one of the first NFT projects to attract great attention in the crypto market. During its peak period, CryptoKitties became the largest Ethereum-based decentralized application of the time.


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