New funding round will value NFT startup Dapper Labs at more than $7.5 billion: report

Dapper Labs, the NFT development platform behind NBA Top Shot, is raising money at a $7.5 billion valuation in a round led by Coatue Management, according to the tech news publication The Information

The three-year-old Dapper Labs had just completed a $305 million funding round on March 30, which valued Dapper at $2.6 billion. That raise was also led by Coatue Management, an investment firm that has also backed Instacart and Airtable.

Coatue’s interest in the Dapper coincides with the recent NFT boom, during which Dapper’s NBA Top Shot has regularly comprised the majority of weekly users of NFT platforms. 

Dapper Labs' most recent funding round has not finished, notes The Information, and the final valuation could increase should more investors get involved.

About Author

MK Manoylov is a reporter for The Block covering NFTs, blockchain-based gaming and cybercrime. MK holds a graduate degree from New York University's Science, Health, and Environmental Reporting Program (SHERP).