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NBA Top Shot, CryptoKitties Firm Dapper Labs Raising $250M+ at $2B Valuation: Report
The firm has generated almost $100 million in NFT sales, according to the report.
Dapper Labs, responsible for the high-flying digital collectibles platform NBA Top Shot, is raising funds that should net the firm more than $250 million at a valuation of about $2 billion, according to The Block, which cited sources familiar with the deal.
Story continues
- The funding round is being led by Coatue Management, which is led by billionaire investor Philippe Laffont, according to the report. Laffont has previously invested in Airtable, Instacart, Spotify, Bitmain and other well-known companies.
- The blockchain game developer has been on a roll, something the timing of the funding raise clearly reflects, The Block noted. Dapper Labs' NBA Top Shop project is now the most popular nonfungible token (NFT) series by volume after being launched in October 2020.
- The firm has generated almost $100 million in NFT sales, the report said.
- Prior to the rise of NBA Top Shot, Dapper was best known as the creator of CryptoKitties.
Read more: Dapper Labs–USDC Integration Helps NBA Collectibles Game Clear $2M in Revenue Since June
Kevin Reynolds
Kevin Reynolds is editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
