Vancouver’s Dapper Labs is raising money again but this time it is at a valuation of over $7.5 billion.
Dapper Labs uses the power of play to deliver blockchain-based experiences in the real world. Getting their start with collecting and breeding digital at CryptoKitties—the world’s most successful blockchain game—the Vancouver studio is now letting basketball fans trade jaw-dropping NBA basketball highlights with NBA Top Shot.
The rush of enthusiasm for blockchain-based collectives is driving an extraordinary surge of investor interest in Dapper Labs. Just a few weeks after Dapper Labs raised $305 million at a valuation of $2.6 billion, the company is raising a new round led by Coatue Management at a valuation above $7.5 billion, according to The Information.
Coatue led Dapper Labs’ previous round and is doubling down on 3-year-old Dapper amid unprecedented demand for non-fungible tokens (NFTs), a newly popular form of digital art that’s verified using blockchain technology.
According to The Information, the round is not yet completed and the valuation could increase as more investors are brought onboard.
Dapper Labs spun out of startup studio Axoim Zen in 2017 and was named to Techcouver’s 10 Homegrown B.C. Startups to Watch in 2021.