Dapper Labs is the maker of NBA Top Shot, a fantasy basketball NFT game where users buy, sell and trade digital cards representing NBA players and moments. The company developed Flow, a blockchain built for scalability and practical use cases, which it positions as an infrastructure play beyond fantasy sports. NBA Top Shot has 1.1 million registered users who have traded more than $780 million on the platform. Dapper Labs recently signed a partnership with LaLiga and expects to launch its LaLiga experience in June 2022. The company faces competition from other NFT sports platforms such as Sorare, which is also expanding into additional professional sports. Dapper is betting heavily on Flow to power additional experiences beyond NBA Top Shot. Dapper Labs builds NFT-based digital collectibles and the Flow blockchain protocol, best known for NBA Top Shot. The company reported that Top Shot has generated over $500 million in sales for its animated trading cards. Dapper will use new financing to continue building NBA Top Shot and expand the platform to other sports and a broader creator community. Flow is designed to handle mainstream consumer applications at scale, enable fiat and credit-card transactions, and reduce high gas fees and environmental concerns. Major partners and users of Flow include Warner Music Group, Ubisoft, Warner Media, the UFC and thousands of third-party developers and creators. The round values the company at about $2.6 billion, according to multiple media reports, and CEO Roham Gharegozlou framed NFTs as a new monetization model for fans and creators. Dapper Labs builds NFT products and its own high-throughput Flow blockchain. Its flagship collectibles game NBA Top Shot launched in full after a private beta that generated over $2 million in revenue. The company completed work on Flow earlier this year; the FLOW token is the native asset used by validators, developers and users to participate in the network and earn rewards. Dapper recently closed an $18 million token sale on CoinList, with 13,000 participants between Sept. 21 and Oct. 2. Earlier it raised $12 million in a prior funding round that included Coinbase Ventures, Andreessen Horowitz and several NBA stars. The firm's activity combines collectible gaming, token economics and blockchain infrastructure. Dapper Labs develops the Flow blockchain and is the company behind CryptoKitties and upcoming titles such as NBA Top Shot. The company uses blockchain technology to create new forms of digital engagement for fans, giving people a stake in communities and new ways for consumers to become creators. Flow is designed to provide the stability and scalability necessary for blockchain products to support mass-market adoption, and it also provides payment rails for credit cards and cryptocurrency. Dapper has announced partnerships with the NBA and NBPA, Warner Music Group, Ubisoft, UFC, and Dr. Seuss Entertainment to build gaming and entertainment experiences on Flow. The company intends to use the funds raised to scale the Flow project. Roham Gharegozlou is founder and CEO; Dapper Labs was founded in 2018 and is based in Vancouver, BC, Canada. Dapper Labs is best known for CryptoKitties and is developing consumer-facing projects such as NBA Top Shot. The company unveiled Flow, a blockchain built to support high-performance ecosystems of apps and games without compromising decentralization. Flow is aimed at enabling music, gaming, and sports experiences that use crypto tokens, interoperable game assets, and verified digital memorabilia. Dapper Labs announced partnerships and advisory support from entertainment and game companies, including Ubisoft and Animoca Brands, and a strategic investment from Warner Music Group. Flow is scheduled to launch in 2020 to support the company’s large-scale consumer projects. Financially, Dapper Labs raised $11 million in the reported round and has raised $40 million to date.

Total raised

$623M

Funding rounds

7

Latest round

Equity

Latest activity

Sep 2021