NBA Top Shot Maker Raises $305M, Investors Include Michael Jordan & Hollywood Stars
Dapper Labs, the company behind NBA Top Shot, raised $305 million and was valued at $2.6 billion. Investors included Michael Jordan, Kevin Durant, Will Smith, and Ashton Kutcher.
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Canadian Dapper Labs, the company behind NBA Top Shot and CryptoKitties, raised $305 million from a pool of investors that included NBA stars and other celebrities, such as Michael Jordan, Kevin Durant, Will Smith, and Ashton Kutcher.
The funding round was led by Coatue Management, and Dapper Labs was valued at $2.6 billion.
Dapper Labs Fundraising Demonstrates Surging Interest in NFTs
Dapper Labs’ NBA Top Shot has been making headlines amid the hype surrounding non-fungible tokens (NFTs), which are blockchain-based digital assets with the ability to have independent value and represent something unique. NFTs are used in crypto art, music, and certificates, among others.
NBA Top Shot has become a symbol of the NFT success. The website enables basketball fans to purchase and become the owners of the digital copy of a video clip highlighting the best moments of the sport, such as a game-winning shot or a dunk. For example, a LeBron James dunk highlight was sold for over $200,000 in Ethereum.
While each tokenized video clip can be seen by anyone, it is owned by a single entity, whether it’s a basketball fan or a group of investors.
NBA Top Shot is still in beta testing five months after the launch. Nevertheless, the platform has managed to attract over 800,000 registered users and has handled about $500 million in sales.
I recently got interested in basketball, but I haven't learned how to do a dunk yet
The overhead shot is considered the most reliable, efficient, and spectacular and completely justifies its name. According to the basketball judging system, a slam dunk is a regular 2-point shot. The simplest overhead jump shot is made with one or both feet. You can read more in the basketball dunk guide. This duck is also called the short player dunk (height 185-195 cm). They are usually performed by point guards, who break through to the basket at high speed and easily reach it due to their good jumping ability.
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