NBA Top Shot-maker Dapper Labs raises $250M at $7.6B valuation

Canadian NFT games maker Dapper Labs announced on Wednesday that it has raised $250 million in a new funding round. 

An anonymous source familiar with the matter said that the round valued the company at $7.6 billion. 

The round was led by Coatue Ventures, with participation from its existing investors Andreessen Horowitz, Google’s GV and Version One Ventures. New investors include BOND and GIC.

Founded in February 2018 by Dieter Shirley, Mack Flavelle and Roham Gharegozlou, Dapper Labs creates NFT games integrated with its new blockchain ‘FLOW’. 

Also Read: Best NFT Games of 2021

The company is mostly famous for its NBA Top Shot which lets users buy and sell digital cards that represent NBA players and moments. The platform currently has more than 1.1 million registered users who have traded over $780 million so far. 

Also Read: Axie Infinity hits $2 billion in all-time NFT sales

Dapper Labs is growing quickly but we’re just scratching the surface of what this new technology can do for people,” said Roham Gharegozlou, the CEO of Dapper Labs. “We’re excited to partner with our incredible investors to scale NBA Top Shot and launch our upcoming titles as well as unlock the potential of the open ecosystem building on Flow.

The news comes days after fantasy football NFT platform Sorare announced that it raised $680 million at $4.3 billion valuation

Written by Sophie Blake


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