Two NFT start-ups raised a combined $930 million this week. Dapper Labs, a maker of virtual basketball trading cards, raised $250 million in a funding round led by Coatue. The new round values the Canada-based firm at $7.6 billion. Sorare, a French fantasy soccer game that incorporates NFTs, also announced it secured $680 million in funding led by SoftBank ($SFTBY@Japan). The investment gives Sorare a valuation of $4.3 billion. NFTs, non-fungible tokens, continue to be a fast-growing phenomenon in the crypto industry. The digital tokens represent ownership of a virtual item, such as a work of art. Ownership is tracked on the blockchain, a digital ledger of transactions.
Comments