Cryptocurrencies and NFTs are sparking the interest and appetite of major investors, who are investing millions of dollars of their capital in projects related to these digital assets.
Dapper labs, the blockchain company that develops NFT projects such as CryptoKitties and NBA Top Shot y One River Digital, the cryptocurrency-focused hedge fund, recently raised over $290 million from large investors.
The developers at Dapper Labs announced Dapper Labs is proud to announce the success of its latest funding round, in which it has raised a total of $250 million from investors such as Coatue Ventures, the firm that led the funding round. Other well-known large investors in the crypto industry also participated in this round, such as a16z, GV (Google Ventures) and Version One Ventures. Dapper Labs also welcomed new investors who participated in its round, such as the venture capital firm BOND and the Singapore-based fund GIC.
For its part, One River Digital closed its first round of strategic financing with a total of 41 million dollars, it reported through a releaseThe round was supported by banking group Goldman Sachs, insurance firm Liberty Mutual Insurance, investment management company Infinity Investment Partners, and other investors. In total, the two firms raised $291 million in funding from large investors interested in the cryptocurrency industry.
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Investors' interest in crypto
So far this year, Dapper Labs has raised a total of $555 million from its investors. The NFT development firm closed an investment round in March of this year for $305 million, which was also led by Coatue Ventures. At that time, well-known professional NBA players such as Michael Jordan and Hollywood actors such as Ashton Kutcher and Will Smith were also backing the company's funding round.
Now, with the recent investment it has raised, Dapper Labs will be able to launch new projects and products and unlock the full potential of the Flow network, said CEO Roham Gharegozlou. With this recent round, the company reaches a valuation of $7.600 billion.
NFTs and Blockchain
Dapper Labs has captivated the interest of companies and investment firms inside and outside the crypto industry thanks to the non-fungible tokens o NFTThrough its NBA Top Shot “moments” platform, Dapper Labs trades videos, in NFT format, of the most representative and iconic plays in NBA games, attracting millions of fans around the world. These NFT moments are equivalent to a trading card, only with the security and immutability offered by blockchain.
To date, according to data from DappRadar, NBA Top Shot maintains a sales volume of almost 700 million since its launch. Another of Dapper Labs' most successful projects is CryptoKitties, one of the first NFT crypto-collectibles developed in the industry, which has accumulated a sales volume of more than $32 million.
Dapper Labs is also the developer of the Flow blockchain, one of the fastest growing and most widely used blockchains today. Flow is a blockchain proof of stake (PoS) created to develop the next generation of games, decentralized applications and NFTs. In addition to all this, the company announced a partnership with the Spanish football division LaLiga to develop NFT moments that revive all the passion of this sport.
One River, crypto future
One River Digital, which launched into the world of cryptocurrencies last year with a $600 million investment in Bitcoin, stated that its goal is to become the leading institutional investment manager in digital assets. Its CEO and CIO, Eric Peters, stated that the funds raised in the recent investment round will be used to drive the transition of traditional finance towards a new, entirely digital financial world, which will open up endless opportunities for everyone.
“The integration of such powerful new technologies into the world of finance will bring unexpected challenges and innovative breakthroughs. We can now offer our institutional clients an extraordinary range of talent and knowledge to help them thrive in the period of profound change ahead.”, Peters said.
The hedge fund has added Jay Clayton, former chairman of the United States Securities and Exchange Commission (SEC), to its Academic and Regulatory Advisory Board. Clayton's appointment is part of its growth strategy to advance within established regulations, guaranteeing transparency and security in its products and services. One River Digital also signed Courtney Elwood, former legal advisor to the CIA, Kevin Hassett, former chairman of the White House Council of Economic Advisers, and others who are part of its Advisory Board.
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