Michael Jordan was not only great on the court but he is now making a name for himself in the investment world. The recent star-studded funding round by Dapper Labs, the firm behind NBA Top Shot, featured high-profile individuals including Michael Jordan.
The NBA Top Shot NFT allows fans to purchase collections of digital basketball highlights known as “moments.” The token makes it possible for fans to own their favourite NBA moments. In February, the most expensive Top Shot moment featuring Lebron’s dunk was sold on the platform for a whopping $208,000.
On March 31, Dapper Labs, the company announced that it had just concluded a $305 million funding round. The funding, which was led by the Investment firm Coatue featured the legendary basketballer Michael Jordan and other entertainment stars like Will Smith. Other basketballers like Brooklyn Net’s Kevin Durant and Laker’s Alex Caruso also invested in the NFT firm.
Michael Jordan Becomes the Latest Investor in Dapper Labs
According to Miami Heat’s Andre Iguodala, his decision to invest in the NBA Top Shot was borne out of the level of attention the tokens have been getting. He went on to add that he has an account where he also bought his personal Moment.
According to an anonymous source, the company is currently valued at $2.6 billion. The blockchain firm also added that the money will help the company grow while expanding to more sport and entertainment experiences.
The NBA Top Shot is the perfect illustration of how innovative technology can impact the media space, reveals Coatue. Notably, Michael Jordan is now among the latest league of investors to join Dapper Labs.