Dapper Labs Is Bringing Its Next Big Project to Fruition
The cards boast several high-ranking players in the league, as well as various top basketball moments in history bundled in packs. Some of the featured players or moments on the cards include a dunk by Zion Williamson and the euro step from Giannis Antetokounmpo. Top Shot cards can be traded, bought and sold via the Dapper application.
Dapper Labs has also garnered millions of dollars through a new funding round. Money was contributed by leading NBA players including Spencer Dinwiddie and Garrett Temple of the Brooklyn Nets. Dinwiddie’s participation is to be expected given his history in the crypto space and his attempts to have users bet on his contract so that he can invest in cryptocurrencies as desired. The platform would also allow betters and investors to garner interest on Dinwiddie’s assets.
In a separate interview, Dinwiddie expressed enthusiasm for Dapper Labs and what the company is working to produce. He stated:
These guys have a vision for where blockchain can go. This is a strategic investment for me because I believe in what Dapper is doing, not just with Top Shot but with the Flow blockchain as well.
Dapper Labs has already attracted funds from some of the biggest companies involved in the venture capital space. Some of these companies include Andreessen Horowitz, Union Square Ventures and Venrock. They’ve been on board ever since the company experienced monster success with Crypto Kitties, a platform that saw so much action it led to a shutdown of the Ethereum network.
Dinwiddie spoke further about the capabilities of blockchain and where he thinks the technology is heading in the future:
It’s about transparency and liquidity. If the ledger is public, you can see the transaction. You don’t have to believe in the parties. You just need to believe in the medium, and when you tokenize things, you can move this value around digitally whenever. If that fits in your industry, if it’s valuable and it’s functional – those are the practical application I’m trying to find… This investment is a synergistic strategic relationship. I have a team and we do our homework. It depends on the terms and the project itself. This is not just me writing a check.
Blockchain Can Help the NBA
Dapper Labs CEO Roham Gharegozlou says he’s not so much inspired by the NBA but by what the blockchain and bitcoin can do for the organization. He states:
Top Shot embodies the values behind crypto. It’s the idea that the thing you own is yours and nobody should take it away from you. The idea that digital things should be permanent and that developers should be able to build on top of them.