Blockchain firm Dapper Labs has just raised $725 million for its ecosystem development fund.
The funds have reportedly been provided by Andreessen Horowitz, Coatue, Greenfield One, Liberty City Ventures, Digital Currency Group, Dapper Ventures and others.
The company will provide funds in FLOW and fiat tokens to help developers create dApps (decentralized applications). In particular, the structure will focus on game development, infrastructure, DeFi and content.
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Each sponsor is expected to offer its own support for selected projects and make its own decisions. The Dapper Labs team can act as a facilitator.
The platform, which was launched back in 2019, runs NFT apps such as CryptoKitties, NBA Top Shot, NFL All Day and UFC Strike, as well as many other dApps.