Dapper Labs, the company behind popular fantasy basketball NFT game NBA Top Shot, has raised another $250 million in funding. Coatue is leading the new investment. According to a source close to the company, today’s funding round values the company at $7.6 billion.
Existing investors Andreessen Horowitz, GV and Version One Ventures are investing once again. Some new investors are also joining the round, such as BOND and Government of Singapore Investment Corporation (GIC).
Dapper Labs is better known as the maker of NBA Top Shots. Users can buy digital cards that represent NBA players and moments. They can then buy and sell some of their cards to other players. The value of these digital collectibles can go up and down over time.
Dapper Labs has developed Flow, a new blockchain built for scalability and practical use cases, such as NBA Top Shot.
NBA Top Shot currently has 1.1 million registered users. These users have traded more than $780 million. Dapper Labs is also betting heavily on its infrastructure play with its new blockchain Flow. It could power other experiences beyond fantasy sports.