Dapper Labs, the company behind blockchain-based virtual collectables CryptoKitties, has raised $15M in funding. Google Ventures, Samsung Next, and Andreessen Horowitz, as well as other large companies, have participated in the financing round led by venture capital firm Venrock.
The raised funds will be used to help Dapper Labs, a Canadian-founded company, expand locally and globally. This includes establishing a U.S. subsidiary led by former executives from Unity and Disney, with additional hires for the Canada office from Ubisoft, EA Sports, Amazon, ESPN, Hasbro, and Zynga. The investment will also accelerate the build-out of the infrastructure necessary to attract mainstream consumers to the blockchain. To date, Dapper Labs has raised $27.85M in investment.
“Our mission at Dapper Labs is to use games and entertainment to bring the values of decentralization to billions of consumers worldwide. This round of financing was about getting the right partners around the table to bring compelling content to the blockchain – and make sure usability and infrastructure allow for adoption by mainstream consumers,” Dieter Shirley, Dapper Labs’ CTO told.
CryptoKitties are digital collectibles which are used for breeding and their value is determined based on how precious or unique the digital cat is, for example, a rare baseball card is very valuable.
As a reminder, this August, CryptoKitties game got a strong rival in the form of Litecoin based game CryptoMonsters. As in the case of CryptoKitties, the CryptoMonsters is about evolving a monster through various actions that will be recorded in the blockchain from its birth to its death. The peculiar app offers users a set of collectible figures with concepts and features similar to other famous games like crypto kitties, but with the difference that instead of running on the Ethereum network, the CryptoMonsters will “live” on the Litecoin Blockchain.