On March 30, 2021, Vancouver-based Dapper Labs, makers of NBA Top Shot and Flow blockchain, announced that it has closed USD$305M in new funding led by Coatue. Dapper Labs received support from Michael Jordan, Kevin Durant, a16z and more than 30 other NBA and NFL players and venture capitalists. This successful round of financing brings the total capital raised by the company to USD$357M.
The funds will be used to scale up the company, building out the NBA Top Shot vision and expanding the platform to other sports. They plan to bring on a new generation of creators to develop engaging experiences using blockchain technology.
NBA Top Shot is one of the world’s fastest growing marketplaces. Launched in 2020, the company allows fans to buy, sell and trade numbered version of officially-licensed video highlights to be bought, sold, or traded with cryptocurrency.
Fasken advised Dapper Labs Inc. with a team led by Geoff Pedlow and Mike Stephens and included Lindsay Clark, Katie Peardon and Rasmeet Mohar (Corporate Finance, Securities).
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