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Venture Capital Floods Into The NFT Market

Cryptopunks NFT Surfing Money

Yesterday SuperRare, one of the largest NFT marketplaces, announced a $9 million Series A round. The round was led by Michael Lazerow at Velvet Sea Ventures and included an all-star roster of investors (Chamath Palihapitiya, Marc Benioff, Scott Belsky, and more).

This follows on the heels of NBA TopShot’s mega $305 million round, OpenSea’s $23 million round, and more.

This is an early indicator of what’s to come. While crypto-money has been flooding the NFT market and making a select group of artists wealthy, venture capital is just now arriving to the NFT space in a major way.

Dapper Labs is currently the 800-pound gorilla with a $2.6 billion valuation. For those unaware, Dapper Labs is behind the viral CryptoKitties project which arguably popularized NFTs back in 2017.

While this market is currently in a boom leading many to believe a bust is nigh, the technology behind NFTs has wide ranging applications. From ticketing, to real estate, to concepts that have yet to be implemented, over the next few months I would anticipate the flood of money to become a tsunami.

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