Investors in the red-hot non-fungible token (NFT) space are eyeing a potential upcoming IPO. This comes as rumors about bringing Canadian Dapper Labs stock public are on NFT investors’ radars right now.
Dapper Labs is well-known for being the company behind NBA Top Shot and Crypto Kitties. As the market for NFTs continues to balloon, investors seem to want a piece of Dapper Labs stock… whenever it comes available.
Indeed, speculation around a Dapper Labs IPO is ramping up following the company’s funding raise of more than $300 million at a $2.6 billion valuation. Access to equity markets could give Dapper Labs the juice it needs to expand its offerings.
Accordingly, let’s dive into what Dapper Labs is all about, for those interested in burgeoning NFT stocks.
What Would Dapper Labs Stock Bring to the Table?
- As mentioned, Dapper Labs is a direct play on the NFT space. The company “uses the power of play to deliver blockchain-based experiences that are made for you and ready for the real world.”
- Dapper Labs has been around since 2018. However, speculation of an IPO has only recently taken off after the company’s latest funding round.
- Dapper Labs raised $305 million in its most recent round. To date, the company has raised more than $350 million as it invests in its blockchain technology.
- Indeed, Dapper Labs is betting investors will continue to rally behind its thesis that “Blockchain is the biggest thing to happen to the internet since the iPhone.”
- The company’s platform supports a range of NFT offerings. These include NBA Top Shot, Crypto Kitties, UFC and Flow. These platforms have become highly popular, and are spurring additional investment from other sports leagues and collectibles companies.
- Today, Axios highlighted celebrity investors, various high-profile VC investors, and the company’s transformative technology as speculative reasons to consider this stock.
- Reportedly, Dapper Labs is also partnered with Warner Music Group (NASDAQ:WMG) and Ubisoft (OTCMKTS:UBSFY).
- These big-name partners, along with some serious capital raised, have brought about speculation the company could go public soon. While there is no confirmation of such an IPO, investors appear willing to line up.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.