Yesterday Dapper Labs announced it closed $12 million in funding for its Flow blockchain from several prominent investors, including NBA players Spencer Dinwiddie, Andre Iguodala, and others. The round included other new investors such as Coinbase Ventures, who will be joining existing investors Samsung, Warner Music Group, Andreessen Horowitz, and many others. Dapper Lab’s total financing to date is $51 million, according to CrunchBase.
This funding announcement comes only 11 months after Dapper Labs raised $11 million for Flow. The startup hopes to use the Flow blockchain to build further blockchain-based games, verify authentic digital collectibles, and run fan tokens for sports personalities and music artists. In 2017, Dapper Labs was responsible for the popular 2017 CryptoKitties app, a blockchain game built on the Ethereum network.
The startup has previously partnered with French company Ubisoft, one of the world’s leading video game firms, who advises on the Flow blockchain and its future development for enterprise use. Investor Warner Music Group, the record label that represents huge names in the music industry, could be a vital player in releasing blockchain fans tokens to the mainstream.
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