NBA Top Shot Creator Dapper Labs Gets $305M in Funding from Michael Jordan, More

Adam Wells@adamwells1985Featured ColumnistMarch 30, 2021

Former basketball superstar Michael Jordan speaks during a press conference ahead of NBA basketball game between Charlotte Hornets and Milwaukee Bucks in Paris, Friday, Jan. 24, 2020. (AP Photo/Thibault Camus))
Thibault Camus)/Associated Press

Basketball Hall of Famer Michael Jordan is among a group of people who have provided funding to the company that created NBA Top Shot.

Per the Associated Press, Dapper Labs announced Tuesday it received $305 million in private funding to "scale up its virtual NBA trading card site."

"We want to bring the same magic to other sports leagues as well as help other entertainment studios and independent creators find their own approaches in exploring open platforms," Dapper Labs CEO Roham Gharegozlou said.

The private funding group includes "current and former NBA players," per the AP.

NBA Top Shot has become a go-to source for crypto-collectible items for fans and memorabilia collectors since Dapper Labs began public beta testing in October.

A LeBron James Top Shot in which the Los Angeles Lakers star dunked over Nemanja Bjelica sold for $208,000 last month.

NBA Top Shot @nbatopshot

👑ALL HAIL THE KING👑 @YoDough scooped up this Legendary LeBron James Moment from our Cosmic Series 1 set for $208,000‼️ This Moment is from our first Legendary set ever minted 💯 The top acquisition for any NBA Top Shot Moment ... so far. Congrats on the nice pickup! 👑 https://t.co/rFLMzbwXN7

The AP noted NBA Top Shot has racked up $500 million in sales with over 800,000 registered users over the past five months.

Per Elizabeth Lopatto of The Verge, NBA players Kevin Durant, Andre Iguodala, Klay Thompson and JaVale McGee are among those who have invested in Top Shot.