Dapper Labs raises $250M, strikes NFT deal with LaLiga

Dapper Labs, the company behind the NBA Top Shot digital collectibles, announced today it has raised $250 million in fresh funding and struck a deal to work with Spain's LaLiga to create NFTs with the soccer league.

Why it matters: It shows that venture firms remain bullish on the underlying notion of infusing collectibles with digital technology.

Driving the news: The investment round, which a source says values the company at $7.6 billion, was led by Coatue.

• The new investors are Mary Meeker's firm Bond and the Government of Singapore Investment Corporation along with existing investors A16Z, GV (formerly Google Ventures) and Version One Ventures.
• As part of the deal with LaLiga, NFTs will be made available beginning in June 2022 featuring videos of top moments from the league's teams, which include Real Madrid and FC Barcelona, among others.

Go deeper: NFTs give sports trading cards a digital upgrade