NBA Top Shot's parent company, Dapper Labs, secures $305 million funding with "Basketball God" Jordan.

According to Dapper Labs, the development team behind several popular NFT projects, they announced yesterday that they have completed a $305 million financing round. This round of financing involved many big-name celebrities, including basketball legend Michael Jordan and current player Kevin Durant. Following this, Dapper Labs' valuation has reached $2.6 billion.

The NFT Industry is Thriving

NFT stands for Non-Fungible Token, which allows creators to tokenize their works, collectibles, videos, photos, documents, and even music. Each NFT is unique, representing ownership of the specific piece of work.

In recent months, the NFT market has been flourishing. Everything from artworks to images, and even tweets from Twitter can be turned into NFTs for sale. Recently, artist Beeple's digital artwork "Everyday: The First 5000 Days" was sold at Christie's auction house for a high price of $69 million.

In addition to Dapper Labs raising $305 million, NFT trading platform SuperRare recently announced a $9 million funding round, while OpenSea secured a $23 million Series A funding from private venture firm Andreessen Horowitz earlier this month. Furthermore, according to Messari estimates, the NFT trading platform Nifty Gateway, owned by twin brothers, is valued at over $1 billion.