Dapper Labs Secures $305 Million Investment from Top Athletes

Dapper Labs, the successful startup behind NBA Top Shot, CryptoKitties and the Flow blockchain, has raised $305 million in a new funding round. The funding round, led by Coatue, included investments from legendary athletes such as Michael Jordan, Kevin Durant, Alex Caruso, Klay Thompson, Andre Iguodala, and several other professional MLB and NFL athletes. It also includes investments from music and entertainment celebrities, such as Ashton Kutcher and Guy Oseary’s Sound Ventures, Will Smith and Keisuke Honda’s Dreamers VC, Shawn Mendes and Andrew Gertler’s AG Ventures, Shay Mitchell, and 2 Chainz.

Since the launch of the Top Shot marketplace in October 2020, the platform has already attracted over 800,000 users and had more than $483 million in trading volume. Dapper Labs will use the investment to continue working on Top Shot as well to expand to other sports leagues.

NBA Top Shot is successful because it taps into basketball fandom — it’s a new and more exciting way for people to connect with their favorite teams and players,”, said Roham Gharegozlou, CEO of Dapper Labs, in a news release. “We want to bring the same magic to other sports leagues as well as help other entertainment studios and independent creators find their own approaches in exploring open platforms.”

This is fantastic news for Dapper Labs, and the NFT industry as a whole. We recommend following the progress of both the FLOW blockchain and NBA Topshot over what should be a period of fast growth and development in the coming months.

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