Alphabet’s GV re-upped its investment in the sports NFT platform developer as part of a round valuing it at $7.6bn.
Canada-based virtual trading card developer Dapper Labs received $250m yesterday from investors including GV, a corporate venturing arm of internet and technology conglomerate Alphabet.
Investment manager Coatue Management led the round, which included Andreessen Horowitz, Bond, Version One Ventures and Singapore’s sovereign wealth fund, GIC. It valued the company at $7.6bn, a source familiar with the deal told CoinDesk.
Dapper Labs uses its Flow blockchain technology to let users trade non-fungible tokens (NFTs) of sports clips to then trade as unique collectibles. Its NBA Top Shot platform is still in open beta but has been responsible for 13 million transactions representing over $780m in items being bought and sold.
The company will use the money to scale its offering and add new products for other sports and areas of entertainment. It recently formed a partnership with Spanish football league La Liga to create its own NFT collectibles.
In March this…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
