Dapper Labs, the team behind it CryptoKitties and NBA Top Shot, raised $ 12 million for its flow blockchain in its most recent investment round.
The new investors include Coinbase Ventures, BlockTower Capital and NBA player Andre Iguodala of the Miami Heat, Spencer Dinwiddie and Garrett Temple of the Brooklyn Nets, JaVale McGee of the Los Angeles Lakers and Aaron Gordon of the Orlando Magic.
Dapper CEO and Founder, Roham Gharegozlou, stated that the funds will be used to “Make sure Flow can be scaled to the size of attractive fan base projects the size of the NBA.”
Dapper Labs raised around $ 38 million in total.
NBA Top Shot is successful early on
Dapper Labs also announced that it has been selling Over $ 1.2 million worth of crypto collectibles to many early adopters of the two-month beta version of their NBA Top Shot platform.
The game is Dapper’s flagship title based on the Flow blockchain. With Top Shot, its players can buy non-fungible tokens (NFTs) that represent significant “moments” in basketball history. Top Shot has sold over 22,000 NFT packages valued at $ 1.2 million to its around 900 active beta users.
The tokens provide multimedia experiences that fans can use to explore videos and statistics on the particular moment that each NFT represents. provide a utility within the hard court mobile game for Top Shot.
In a statement to Cointelegraph, Gharegozlou highlighted Flow’s ability to host tokens with 3D animation and stated that Flow was created “To ensure that every NFT has the ability to access a high-performance environment that users build applications for and scale to billions of users.”
The best blockchain games collectively raised over $ 550 million
Based on data from blockchaingamer.biz, Dapper’s collection suggests that crypto gaming companies raised around $ 552 million in total.
The sum includes $ 189 million in traditional investments such as venture capital and stock offerings, and $ 366 million in token sales, initial coin offers, and other fundraising methods native to the crypto space.
There have been extensive collections with the fantasy football game over the past month. Sorare, who raised $ 4 million in an initial round, and blockchain gaming company Animoca Brands received $ 4.1 million from strategic investors. Increase the total amount raised by the company to more than $ 18 million.
DMarket, a decentralized market for in-game items, raised $ 6.5 million in June to increase lifetime donations to $ 26 million. The first quarter also saw Horizen Blockchain Games and game developer SuperTree raised $ 5 million and $ 2.5 million, respectively.
Crypto games are just getting started
Despite the substantial income, the CEO of Animoca Brands, Yat Siu, said that to Cointelegraph The $ 500 million milestone is “just the beginning” for blockchain-based games. and found that they were reversed USD 4.1 billion in augmented reality / virtual reality gaming in 2019.
“Today’s video games are a $ 150 billion industry and the $ 500 million invested today is still a small amount.” Said Siu. “Given the potential in gaming as the most appropriate route to mass blockchain adoption, we believe this will only increase significantly.”