Capital deployed to help the flow dapp ecosystem expand
Dapper Labs will use $725 million to attract developers, teams, and dapps to the Flow blockchain. The team behind the Flow blockchain, the NBA Top Shot collectibles, and the infamous Cryptokitties want to expand the Flow ecosystem by bringing in a more diverse offering. The fund becomes the largest ecosystem backing of its kind and will go towards elevating gaming, infrastructure, DeFi, content, and the role of creators in the Flow ecosystem.
Investors support the fund with considerable holdings of the network’s native token, FLOW, and a stake in Dapper Labs itself. They include Andreessen Horowitz (a16z), Coatue, Union Square Ventures, Greenfield One, Liberty City Ventures, and CoinFund. Moreover, the funding gives Dapper Labs coverage and access to support across the major markets of Asia, the Americas, and Europe.
To date, the leading dapps on the Flow blockchain have been incubated and launched by the Dapper…
