Dapper Labs, the company behind the creation of the Cryptokitties, the NBA Top game and the invention of the term NFT, has announced the launch of a $725 million fund for its blockchain Flow.
Flow, a $725 million fund to save the NFT vibe
Launched in 2020 by Dapper Labs, Flow is a blockchain optimized for NFT and other Dapps using them. Among the iconic blockchain games, there is the famous basketball game NBA Top.
True standard of the blockchain with its 1.14 billion $ sales counting the primary and secondary market, it is normal that Dapper Labs wishes to attract new developers.
Indeed, despite an estimated valuation of $7.6 billion by the end of 2021 and nearly 7500 developers contributing to the protocol, there are only 200 NFT games on it.
And what better way to attract developers on THE blockchain optimized for NFT, while this market is panicking and the floor price of iconic collections are collapsing, than the launch of a $725 million fund?
This fund is a unique opportunity to attract and fund the next generation of developers from the global Flow communityDan Rose, President of Coatue Ventures
This fund, beyond financing developers, will allow the birth of a real ecosystem with the implementation of events and subsidized initiatives and the establishment of gas pedals and incubators. Offices would also be made available in countries such as Germany and Asia, a real home for the crypto ecosystem.
All these initiatives should delight NFT enthusiasts and give visibility to their parent blockchain. Moreover, with the presence of the Bybit exchange in the fund, there is no doubt that Flow will benefit from its visibility. Indeed, today it is difficult to find an event where the exchange is not a sponsor. Is Bybit trying to impose itself as the NFT exchange aware of the importance of the sector? Will this attempt be more successful than Coinbase’s and can it compete with Binance? Wait and see…
CEO and Editor-in-Chief of Coinpri I have been navigating the waters of Blockchain for 5 years already.
Wait, I can see the Promised Land of Adoption in the distance.