Dapper Labs attracts $300 million investment amid the NFT fever…Michael Jordan also participates

NBA top shot image. [Photo: NBA top shot site capture]

[Digital Today Reporter Chigyu Hwang] Amid growing interest in non-fungible tokens (NFT), Daeper Labs, one of the representative companies that implemented NFT as a real service, invested $350 million in investment.

Dapper Labs, which developed the blockchain-based cat collection game CryptoKitty, and now focuses on operating the virtual trading card NBA Topshot, is recognized for its $2.6 billion corporate value in this investment.

According to Dapper Labs on the 30th (local time), the investment was led by Koatu, and Michael Jordan, an NBA superstar in the US professional basketball, also participated. In addition to Michael Jordan, active NBA players such as Kevin Durant, Alex Caruso and Clay Thompson were also listed on the investor list.

Dapper Labs opened the NBA Topshot and related marketplace in cooperation with the NBA in October last year. The NBA Topshot offers’Moments’, an officially licensed NBA basketball highlight clip. Users can collect and trade them.

After six months of opening, NBA Topshot posted sales of $483 million. There are only 900,000 registered accounts. Of these, 338,000 people own NFTs.

Dapper Labs has built a blockchain platform called Flow for Topshot NFT and related marketplaces. In the case of CryptoKitty, it was provided based on Ethereum, but the flow was developed by seeing that it is necessary to enhance scalability.

Dapper Labs is a strategy to accelerate business expansion based on the funds secured through this investment. It plans to expand the experience of applying NFT in various sports leagues and entertainment fields.

“We want to bring the same magic to other sports leagues and help entertainment studios and independent producers find their own approach as they explore open platforms,” ​​said Roham Garegozlu, CEO of Dapper Labs. He added, “NFT is opening up a new monetization model that gives fans more benefits than advertising or sponsorships.”

Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.