Wednesday, October 20, 2021
HomeCryptocurrencyCryptoKitties Firm Dapper Labs Raises $250 Million

CryptoKitties Firm Dapper Labs Raises $250 Million

Key Takeaways

  • Dapper Labs has introduced that it has raised $250 million, possible bringing its present valuation past $7.75 billion.
  • The non-fungible token firm is greatest recognized for its CryptoKitties and NBA Prime Pictures sequence of collectibles.
  • In the present day it additionally introduced a partnership with LaLiga and hinted at new partnerships with UFC and Warner Music Group.

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The Vancouver-based blockchain firm Dapper Labs has raised $250 million, in line with a press release.

$250 Million Raised by Dapper Labs

A number of funding companies participated in Dapper Labs’ newest funding spherical, together with Coatue, a16z, GV (previously Google Ventures), Model One Ventures, BOND, and GIC.

In April, the agency was valued at over $7.5 billion. As such, this fundraising spherical might increase that quantity past $7.75 billion.

Dapper Labs CEO Roham Gharegozlou mentioned that the agency is “simply scratching the floor of what this new know-how can do for folks.” He added that investments will assist the agency scale its present merchandise and launch future product traces.

In the present day’s fundraiser comes simply as the corporate introduced a partnership with the Spanish professional soccer group LaLiga. It can create a sequence of NFTs that includes movies of memorable moments from the game, just like its earlier NBA Prime Pictures product line.

Dapper Labs Hints at New Partnerships

Dapper Labs is greatest recognized for CryptoKitties, one of many first sequence of NFT collectibles minted on Ethereum in 2017.

Extra lately, it has gained consideration due to its manufacturing of the NBA Prime Pictures sequence. The corporate says the marketplace for these collectibles grew by an element of 30 this 12 months, with greater than $780 million of things purchased and bought.

In the present day’s press launch additionally hinted at new partnerships with family names reminiscent of UFC and Warner Music Group, in addition to a partnership with the digital avatar firm Genies.

The corporate’s Circulation blockchain underlies a lot of its blockchain efforts. Circulation is powered by Google Cloud, and over 3,000 content material creators have begun to work on the platform.

Disclaimer: On the time of scripting this writer held lower than $75 of Bitcoin, Ethereum, and altcoins.

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