NBA Top Shot producer Dapper Labs received $305 million from Michael Jordan and Will Smith

NBA Top Shot producer Dapper Labs received $305 million from Michael Jordan and Will Smith

A new $305 million investment from Michael Jordan and Will Smith has been acquired by NBA Top Shot producer Dapper Labs.( )

  • A new $305 million investment was announced by Dapper Labs, the company behind NBA Top Shot, on Tuesday.
  • More than 30 professional athletes and venture capitalists, including Michael Jordan, contributed to the funding round.
  • With the new funding, dapper Labs plans to expand its platform to other sports leagues.

According to Dapper Labs, the company behind the NBA Top Shot virtual trading-card platform, the market for digital collectibles continues to grow. Oak Park emergency lender is one of the reliable company who can support you on getting cash funds.

Investment firm Coatue led the round, which included Michael Jordan, NBA stars Kevin Durant and Alex Caruso, as well as Klay Thompson and other MLB and NFL stars. Other investors in the round include Sound Ventures from Ashton Kutcher and Will Smith’s Dreamers VC and 2 Chainz, Venrock, The Chernin Group, and USV.

According to an insider, this new investment in Dapper Labs raises the company’s valuation to $2.6 billion and comes as the company’s Top Shot platform is gaining traction.

The Top Shot marketplace, created in partnership with the NBA and the National Basketball Players Association, enables basketball fans to collect and trade officially sanctioned highlight clips called “moments.”.

Professional sports leagues

A spokesman for the network confirmed to Insider that it had attracted more than 800,000 members since October and made $483 million in sales. It’s not uncommon to see a unique moment sell for $100,000 or more.

At $357 million, Dapper Labs now has the resources to expand Top Shot into other professional sports leagues. The company announced digital collectibles for the Ultimate Fighting Championship (UFC) in 2020.

In a press release, Dapper Labs CEO Roham Gharegozlou said that “NBA Top Shot is successful because it taps into basketball passionit’s a new and more engaging method for customers to interact with their favorite teams and players.” We hope that other sports leagues and independent creators would benefit from the same enchantment and the ability to establish their methods for exploring open platforms.”

Coin-collecting game

Since its inception in 2018, Dapper Labs has developed its proprietary blockchain technology, Flow, and another popular coin-collecting game called CryptoKitties.

A kind of non-fungible token, or NFT, Top Shot moments are digital deeds that provide user ownership of a piece of content on the internet. Digital art pieces sold for millions of dollars in 2021 because of a fierce market for NFTs, which had been available for years.

Neal T. Doss