Hedge fund Coatue led the funding round for the Vancouver-based maker of the breakout non-fungible token (NFT) hit NBA Top Shot, which the company plans to use to hire more employees and expand NFTs into other sports and creative fields. (The Logic)
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Hedge fund Coatue led the funding round for the Vancouver-based maker of the breakout non-fungible token (NFT) hit NBA Top Shot, which the company plans to use to hire more employees and expand NFTs into other sports and creative fields. (The Logic)
Talking point: Whether you think the phenomenon is a fad or a revolutionary new asset class, NFTs are huge right now, as evidenced by the investors in this funding round. The list includes basketball (Michael Jordan, Kyle Lowry and Kevin Durant, to name a few), baseball and football players, as well as celebrities Ashton Kutcher, Will Smith and 2 Chainz. Legendary venture capital firm a16z gets a nod under “other strategics participating,” along with Canada’s Version One. The latter firm also announced its participation in a US$9-million Series A round for SuperRare, a marketplace for NFT art. Dapper’s Top Shot reported nearly US$500 million in trading volume since it opened its beta version to the public in October.
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