Dapper Labs Raises $12M From VC Firms and NBA Players, Nets $1.2M in NFT Sales

Dapper Labs, the team behind CryptoKitties and NBA Top Shot, has secured $12 million in the latest investment round for its Flow blockchain.

Dapper Labs has now raised approximately $38 million in total.

Dapper Labs also revealed that it has sold more than $1.2 million worth of crypto-collectibles to hundreds of early adopters on the two-month-old beta version of its NBA Top Shot platform.

Top Shot has sold more than 22,000 packs of NFTs worth $1.2 million to its roughly 900 active beta users.

Biz, Dapper's raise would suggest that crypto gaming firms have raised $552 million in total.

The sum comprises $189 million in the form of traditional investments such as venture capital and stock offerings, and $366 million in token sales, initial coin offerings, and other crypto-native fundraising methods.

Last month saw notable recent raises, with fantasy soccer game Sorare raising $4 million in a seed round and blockchain gaming company Animoca Brands receiving $4.1 million from strategic investors - upping the total sum raised by the company to more than $18 million.

DMarket, a decentralized in-game item marketplace, raised $6.5 million in June to bring its lifetime fundraising total to $26 million.

The first quarter also saw Horizen Blockchain Games raise $5 million and game developer SuperTree raise $2.5 million.

"Gaming today is a $150 billion industry and $500 million invested today is still a small amount," said Siu.