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CryptoKitties Creator Gets Millions in Investment From Google And Samsung

Dapper Labs, a Canadian firm and the creator of the famous CryptoKitties, has received a $15 million in funding from Google, Samsung, and the Rockefeller Family.

For Google and Rockefeller, investment was made through their respective venture arms, i.e., Alphabet and Venrock.

Dapper Has Raised $ 27.85 Million So Far

The funding follows another funding round early this year in which Samsung also participated. Venrock spearheaded the current financing round, and now within two rounds, Dapper has raised $27.85 million.

The Vancouver-based firm’s famous game focuses on breading virtual cats via the blockchain. The startup came to the limelight in 2017 when the CryptoKitties game saw a significant adoption on the Ethereum platform.

Dapper now plans to use the funds to establish a subsidiary in Los Angeles, United States. Additionally, the funds will be used to support the development of new entertainment applications like games on the blockchain.

Roham Gharegozolou, Chief Executive Officer, Dapper, said that:

“Everyone thought CryptoKitties was about buying cats, but it’s only the first step in a bigger vision. We believe that blockchain is going to change everyday life for everyday people. We see it as a new platform the way social networks were, or the way mobile was a few years ago.”

He adds that his goal is to see Dapper labs reach the level of Zynga and have a similar impact of social gaming on the blockchain.

David Pakman, general partner, Venrock, noted that:

“This is an enormously big opportunity and, if successful, maybe the second blockchain wave adopted by consumers. Buying and trading cryptocurrencies may be fun for some, but crypto goods promise to be way more fun for the rest of us.”

Pakman was hinting on the possibility of Dapper expanding their collection of crypto collectibles.

Reportedly, Dapper has also acquired funding from the CEO and founder of Reddit, Steve Huffman, and Andreessen Horowitz Cultural Leadership Fund.

Although Venrock seems to be satisfied with their new investment, not everyone is convinced it’s a wise investment. Byrne Preston, a banking and securities lawyer, based in London thinks its a bad idea since the platform has only 359 daily active addresses.

 

 

Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.

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