Dapper Labs Raises $250 Million at $7.6 Billion Valuation

    • Dapper Labs has raised $250 million in a round led by Coatue.
    • The company raised $305 million in March.

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NBA Top Shot creator Dapper Labs has raised $250 million and secured a deal with soccer league La Liga to create NFTs.

The investment round values the company at $7.6 billion.

Led by Coatue, the funding comes just months after a $305 million round in March. It will be used for elevating the fan experience, developing new IP, and expanding the Flow blockchain, an engine for transactions created by Dapper.

Dapper got its start with CryptoKitties — a game with digital kittens you could breed and sell — in November 2017, but Top Shot’s explosive growth took the business to new heights.

  • Top Shot users have bought and sold more than $780 million worth of “Moments” over the past year.
  • The platform has more than 1.1 million users — 48% of them own at least one Moment. Active users visit the site 300 times per month.
  • It has seen over 13 million transactions.

La Liga’s NFTs, which launch on Flow next summer, will be similar to those of NBA Top Shot. Flow has more than 600 projects on the platform and announced a partnership with Google Cloud last week.

The deal allows Dapper to more closely compete with soccer NFT-focused Sorare, which announced on Monday that it raised $680 million in a Series B funding round.