Dapper Labs raises $725 million for Flow blockchain ecosystem fund

The Flow blockchain-related startup Dapper Labs raised $725 million for an ecosystem development fund. The funds were provided by Andreessen Horowitz, Coatue, Greenfield One, Liberty City Ventures, Digital Currency Group, Dapper Ventures and others.

Today, @flow_blockchain is announcing a $725 Million ecosystem fund to accelerate growth across the entire Flow ecosystem

The largest joint commitment made towards ANY blockchain ecosystem, available for both existing & future developers #onFlow 🌊

👉: https://t.co/Z1ney3gwCZ pic.twitter.com/DSa2ZjNSxc

— Dapper Labs (@dapperlabs) May 10, 2022

The Flow blockchain-related startup Dapper Labs raised $725 million for an ecosystem development fund. The funds were provided by Andreessen Horowitz, Coatue, Greenfield One, Liberty City Ventures, Digital Currency Group, Dapper Ventures and others.

The fund will allocate financing in FLOW tokens and fiat to support developers building dapps. The structure will focus on developing games, infrastructure, DeFi and content.

Each sponsor is expected to offer its own support to selected projects and make funding decisions independently. The Dapper Labs team may act as a coordinator, according to Decrypt.

Launched in 2019, the platform hosts well-known NFT applications such as CryptoKitties, NBA Top Shot, NFL All Day and UFC Strike, as well as many other проект Genies.

According to Flowscan, the number of monthly transactions on the Flow blockchain rose from 3.9 million in September to a record high of 11.8 million in February. In April the figure stood at 11.4 million. In recent weeks the platform has registered a record number of new users and daily transactions.

In February, Circle, the operator of USDC, announced the launch of the stablecoin on the Flow blockchain.

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