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The company behind NBA’s NFT trading cards valued at $2.6b – Source fastcompany.com

NFTs, or nonfungible tokens, have exploded in both the financial markets and the zeitgeist at large. Simply put, NFTs use blockchain technology to authenticate digital assets, which can then be bought and sold—sometimes at staggering sums. Much of the hype around NFTs has been fueled by headline grabbing sales, such as the artist Beeple’s recent $69.3 million payday for a single digital artwork, Twitter CEO Jack Dorsey hawking his first tweet for $2.9 million, and the original GIF of the internet’s favorite Pop-Tart cat going for nearly $600,000.

While some analysts worry that NFTs are a speculation bubble primed to burst, Roham Gharegozlou, CEO of blockchain company Dapper Labs, is planning for the long haul—and he just received a major round of funding to meet that goal.

Announced today, Dapper Labs, the company behind the National Basketball Association’s (NBA’s) digital collectibles platform Top Shot, closed $305 million in funding led by investment management company…

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Source : fastcompany.com

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