Dapper Labs’ valuation triples to $7 billion on rumors of new investment

Canadian outfit Dapper Labs is rumoured to be raising more funding on a $7.5 billion valuation.

The surprise here is the Dapper Labs announced a $305 million round in March 2021 on a $2.6 billion valuation. 

It’s said that the lead investor in that round – Coatue Management – is also leading the new round, which would enable Dapper to scale even faster. 

Its Flow blockchain has already hosted more than $500 million in NFT trading via dapps such as NBA Top Shot.

Time for rocket fuel

Dapper has also claimed hundreds of teams are already working on games and other entertainment products using Flow. 

Games such as Chainmonsters, MotoGP Ignition and Star Girl are expected to launch on the blockchain soon, while Dapper’s own CryptoKitties is also going to be transported from the Ethereum blockchain.

Clearly Coatue and Dapper’s existing investors see 2021 as a crucial opportunity for the long term success of Flow especially with Ethereum going through its transition to Eth 2.0.

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