NBA Top Shot Creator collects $ 725 million to increase flow blockchain use

NBA Top Shot Creator collects $ 725 million to increase flow blockchain use

Dapper Labs, the web3 platform that drives the blockchain-based collective card platform NBA Top Shot, presented an ecosystem fund of $ 725 million to boost the growth of the community.

The fund is the greatest common commitment to a blockchain ecosystem, the company said in a statement on Tuesday. The participants include the risk capital company A16Z, Coatue, Coinfund, Greenfield One, Liberty City Ventures, Digital Currency Group and Union Square Ventures.

"As [Web3] accelerated and demanding app developers are looking for the best platforms, Flow may be the best decentralized blockchain that was developed for scalability, security and user-friendliness that most modern startups need to be successful," said David Pakman, Managing Partner of Coinfund, in a statement.

The fund offers existing and future developers support in creating applications on the flow blockchain through investments and flow token subsidies. It will concentrate on the support of games, infrastructure, decentralized finances, content and developers, and capital can also be used for team enlargement, user acquisition and general operating costs.

A spokesman for the company did not immediately answer a request for comment.

Flow was originally developed by Doper Labs and is a blockchain for consumers who have carried out transactions three times a day since September 2021.

Flow has more than 7,000 developers based on the blockchain. The protocol has about 1,000 active projects and 175,000 monthly active users. The web3 platform makes NBA-Top-Shot It enables users to have NFTS of NBA and WNBA games and players, to sell and act, as well as nfl all day The licensed NFL-video nfts (non-fungable tokens) offers.

Dapper Labs completed a $ 250 million round in September, which, according to the company, is to be used to support additional brand-oriented sports, entertainment and music products. Coatue and A16Z also invested at the time.

The investment is the youngest in a number of investments in digital assets for A16Z, which have recently started Crypto research laboratory . The company was one of 18 investors who supported Elon Musks $ 44 billion to buy Twitter and committed $ 400 million. It also carried out a starting round of $ 25 million to finance the introduction of the NFT-focused CO: Create protocol.

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The NBA Top Shot Creator contribution collects $ 725 million to increase flow blockchain use is not a financial advice.