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NFT Start-Ups Raise $900 Million
Description
Two NFT start-ups raised a combined $930 million this week. Dapper Labs, a maker of virtual basketball trading cards, raised $250 million in a funding round led by Coatue. The new round values the Canada-based firm at $7.6 billion. Sorare, a French fantasy soccer game that incorporates NFTs, also announced it secured $680 million in funding led by SoftBank ($SFTBY@Japan). The investment gives Sorare a valuation of $4.3 billion. NFTs, non-fungible tokens, continue to be a fast-growing phenomenon in the crypto industry. The digital tokens represent ownership of a virtual item, such as a work of art. Ownership is tracked on the blockchain, a digital ledger of transactions.
Keywords & Tags
#crypto
#cryptocurrency
#nft
#non-fungible token
#crypto news
#blockchain
#altcoin
#crypto market
#digital asset
#crypto broker
#Softbank
#SFTBY
#NFT Start-Up
#Sport-Focused NFT
#Crypto Gold Rush
#Dapper Labs
#virtual basketball trading cards
#Coatue
#Canada-based firm
#Sorare
#French fantasy soccer game
#digital tokens
#digital ledger
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