NBA Top Shot, CryptoKitties Firm Dapper Labs Raising $250M+ at $2B Valuation: Report

Dapper Labs, responsible for high-flying digital collectables such as NBA Top Shots and CryptoKitties, is raising funds that should net the firm more than $250 million at a valuation of about $2 billion, according to The Block, which cited sources familiar with the deal.

• The funding round is being led by Coatue Management, which is led by billionaire investor Philippe Laffont, according to the report. Laffont has previously invested in Airtable, Instacart, Spotify, Bitmain and other well-known companies. 

• The blockchain game developer has been on a roll, something the timing of the funding raise clearly reflects, The Block noted. Dapper Labs' NBA Top Shop project is now the most popular non-fungible token (NFT) series by volume after being launched in October 2020.
• The firm has generated almost $100 million in NFT sales, the report said.