Dapper Labs, the company developing the new Flow blockchain, today announced that it has closed $12M in new funding from investors including NBA players Andre Iguodala (Miami Heat), Spencer Dinwiddie and Garrett Temple (Brooklyn Nets), JaVale McGee (Los Angeles Lakers), and Aaron Gordon (Orlando Magic). Other new investors in this round include Coinbase Ventures, Distributed Global, Valor Capital Group, A.Capital, BlockTower Capital, Blockchange Ventures, EONXI Ventures, Reed Company, Greenfield One, North Island Ventures, Republic Labs, L1 Digital AG and Pirata Capital. Existing investors participating include Samsung NEXT, Andreessen Horowitz including their Cultural Leadership Fund, Union Square Ventures, Venrock, Accomplice, Animoca Brands, and AppWorks, among others.
“Crypto enables entirely new possibilities for people to create and exchange value on the internet.” said Roham Gharegozlou, founder and CEO of Dapper Labs. “Flow is a new and easy to use blockchain that lowers barriers to entry and lets anyone join this new digital economy. The funding from this round will ensure Flow can scale to the size of projects appealing to fan bases as vibrant and demanding as the NBA and our other partner brands including Dr. Seuss, UFC, and Warner Music. Flow lets fans join the economy of their passions in a way that wasn’t possible before crypto.”
Over the past few months, Dapper Labs has announced major partnerships with Warner Music Group, Dr. Seuss Entertainment, and UFC, to build new gaming and entertainment experiences on Flow. Besides providing the stability and scalability necessary for blockchain products to support mass market adoption, Flow also provides payment rails for credit cards and cryptocurrency for consumers to use with ease.