{"id":185645,"date":"2021-03-31T05:00:16","date_gmt":"2021-03-31T04:00:16","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=185645"},"modified":"2021-03-30T22:52:27","modified_gmt":"2021-03-30T21:52:27","slug":"michael-jordan-will-smith-other-stars-invest-305m-in-nba-top-shot-developer-dapper-labs","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/michael-jordan-will-smith-other-stars-invest-305m-in-nba-top-shot-developer-dapper-labs\/","title":{"rendered":"Michael Jordan, Will Smith, other stars invest $305M in NBA Top Shot developer Dapper Labs"},"content":{"rendered":"<p>Dapper Labs, the company behind highly successful non-fungible token (NFT) platforms CryptoKitties and NBA Top Shot, has raised $305 million in a funding round led by investment firm Coatue, <a href=\"https:\/\/www.usatoday.com\/story\/sports\/nba\/2021\/03\/30\/nba-top-shot-dapper-labs-valuation-funding-round\/7058307002\/\"><i>USA Today<\/i><\/a> reported today.<\/p>\n<blockquote><p>\u201cNFTs are the first time anyone can create unique digital items that can be portable across different products anywhere the customer wants\u2014simple but game-changing,\u201d said Dieter Shirley, chief technology officer at Dapper Labs.<\/p><\/blockquote>\n<p>As a result, the influx of fresh capital has pushed the company\u2019s total valuation to $2.6 billion, a knowledgeable source told the outlet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Excited to share that we have just announced a $305 million funding round to grow our ecosystem on our path to mainstream adoption ?<\/p>\n<p>Learn more here ?<a href=\"https:\/\/t.co\/ZTDgaD9uij\">https:\/\/t.co\/ZTDgaD9uij<\/a><\/p>\n<p>&mdash; Dapper Labs (@dapperlabs) <a href=\"https:\/\/twitter.com\/dapperlabs\/status\/1376885046120906757?ref_src=twsrc%5Etfw\">March 30, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><a href=\"https:\/\/cryptoslate.com\/the-nba-and-the-company-behind-cryptokitties-launching-blockchain-based-collectables\/\">NBA Top Shot<\/a> is a blockchain platform where users can trade highlights from various NBA matches in the form of NFTs. These non-interchangeable tokens have become the latest \u201ccrypto craze\u201d over the past few months, propelling platforms such as Top Shot into the very top of trading volume charts.<\/p>\n<p>After its launch in open beta just six months ago, NBA Top Shot has already generated nearly $500 million in sales as users created over 800,000 accounts\u2014roughly 338,000 of which own at least one NFT, the firm noted. Shirley added:<\/p>\n<blockquote><p>\u201cNFTs let people have real ownership in games and digital worlds for the first time. Developers can also easily build products that let customers access their NFTs and identities from different products, meaning less lock-in on customers. On a blockchain like Flow, NFTs can rewire the Internet for the better.&#8221;<\/p><\/blockquote>\n<h2>A stellar group of investors<\/h2>\n<p>Notably, the list of Dapper Labs\u2019 latest investors is just as impressive as the raised sum itself. Apart from Coatue, the participants included NBA legend Michael Jordan, as well as basketball stars Kevin Durant Andre Iguodala, Kyle Lowry, Spencer Dinwiddie, Andre Drummond, Alex Caruso, Michael Carter-Williams, Josh Hart, Udonis Haslem, JaVale McGee, Khris Middleton, Domantas Sabonis, Klay Thompson, and Nikola Vucevic.<\/p>\n<p>\u201cNBA Top Shot is one of the best demonstrations we\u2019ve seen of how quickly new technology can change the landscape for media and sports fans. We're excited to follow the progress with everything happening on Flow blockchain and use our platform with the Boardroom to connect with fans in a new way,\u201d said Durant.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">?ALL HAIL THE KING?<a href=\"https:\/\/twitter.com\/YoDough?ref_src=twsrc%5Etfw\">@YoDough<\/a> scooped up this Legendary LeBron James Moment from our Cosmic Series 1 set for $208,000\u203c\ufe0f This Moment is from our first Legendary set ever minted ?<\/p>\n<p>The top acquisition for any NBA Top Shot Moment &#8230; so far.<\/p>\n<p>Congrats on the nice pickup! ? <a href=\"https:\/\/t.co\/rFLMzbwXN7\">pic.twitter.com\/rFLMzbwXN7<\/a><\/p>\n<p>&mdash; NBA Top Shot (@nbatopshot) <a href=\"https:\/\/twitter.com\/nbatopshot\/status\/1363969592779890690?ref_src=twsrc%5Etfw\">February 22, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Guests from other sports took part as well. Among them, Nolan Arenado and Tim Beckham represented Major League Baseball. Meanwhile, investors from the National Football League included Thomas Davis, Stefon Diggs, Dee Ford, Malcolm Jenkins, Rodney McLeod, Jordan Matthew, Devin McCourty, Jason McCourty, DK Metcalf, Tyrod Taylor, and Trent Williams.<\/p>\n<p>On the companies\u2019 side, Dapper Labs received funding from Richard Seymour\u2019s 93 Ventures, Sound Ventures (Ashton Kutcher and Guy Oseary), Dreamers VC (Will Smith and Keisuke Honda), and AG Ventures (Shawn Mendes and Andrew Gertler).<\/p>\n<p>With the help of its new capital, Dapper Labs now reportedly plans to expand beyond basketball and bring more sports, video games, and other entertainment projects to its Flow blockchain.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dapper Labs, the company behind highly successful non-fungible token (NFT) platforms CryptoKitties and NBA Top Shot, has raised $305 million in a funding round led by investment firm Coatue, USA Today reported today. \u201cNFTs are the first time anyone can create unique digital items that can be portable across different products anywhere the customer wants\u2014simple [&hellip;]<\/p>\n","protected":false},"author":472,"featured_media":185673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,35372,76232],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Michael Jordan, Will Smith, other stars invest $305M in NBA Top Shot developer Dapper Labs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/michael-jordan-will-smith-other-stars-invest-305m-in-nba-top-shot-developer-dapper-labs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Michael Jordan, Will Smith, other stars invest $305M in NBA Top Shot developer Dapper Labs\" \/>\n<meta property=\"og:description\" content=\"Dapper Labs, the company behind highly successful non-fungible token (NFT) platforms CryptoKitties and NBA Top Shot, has raised $305 million in a funding round led by investment firm Coatue, USA Today reported today. \u201cNFTs are the first time anyone can create unique digital items that can be portable across different products anywhere the customer wants\u2014simple [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/michael-jordan-will-smith-other-stars-invest-305m-in-nba-top-shot-developer-dapper-labs\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-31T04:00:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-03-30T21:52:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/dapper-NBA.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Liam Frost\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Liam Frost\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/michael-jordan-will-smith-other-stars-invest-305m-in-nba-top-shot-developer-dapper-labs\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/michael-jordan-will-smith-other-stars-invest-305m-in-nba-top-shot-developer-dapper-labs\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#person\",\"name\":\"Liam Frost\",\"url\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/liam-frost\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/03\/author-liam-frost-300x300.jpg\",\"caption\":\"Liam Frost\"},\"jobTitle\":\"Reporter\",\"description\":\"Liam Frost is a freelance journalist and editor with over 15 years of experience working for various media outlets across the world. 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