Just a few weeks after raising funds at a reported $2.6 billion valuation, Dapper Labs, responsible for the high-flying digital collectibles platform NBA Top Shot, is raising more money but is now being valued at more than $7.5 billion, according to The Information.
- Citing a person with direct knowledge of the talks, the report said the new round is being led by Coatue Management, which led the previous round. Coatue is led by billionaire investor Philippe Laffont.
- Three-year old Dapper's value is exploding along with the demand for non-fungible tokens (NFTs).
- Andreessen Horowitz, one of the backers of Coinbase, is a backer of Dapper, the report noted.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.