Ethereum CryptoKitties Founder Secures Funding of $15 Million From Google And Samsung

by | Nov 2, 2018 | Cryptocurrency, Cryptocurrency News

Ethereum | CryptokKtties |Funding round

Among the many uses case of ethereum DApps, CryptoKitties is quite similar to the cherry on the cake. Even with the lul that currently plagues the cryptocurrency ecosystem, the Canada-based Dapper Labs who are the creator of the infamous CryptoKitties has scored a $15 million in funding from Google and Samsung.

As per a report from Bloomberg, the venture branches of Google (Alphabet), Samsung, and Venrock have collectively invested $15 million in Dapper solely responsible for  CryptoKitties decentralized application (DApp). An American venture capital firm, Venrock was founded by the Rockefeller Family, reportedly led the round that included giants like Samsung and Google to raise the bar with  $15 million in Dapper.

Notably, the technology startup wasn’t that forthcoming with the exact specifics of the deal, which might indicate that the funding round may not have been cut and dried or for that matter the company wants to maintain the aura of secrecy. Dapper has until now managed to raise an upward of $27.9 million in the disclosed funding rounds, which implies that many venture capitalists have a sense of trust and see a brighter future for the firm.

Chief executive at Dapper Labs, Roham Gharegozolou, told the publishing that he wants his technology upstart to emulate what Zynga does in the blockchain ecosystem. Considering Zynga’s staggering $3.15 billion valuation figure on America’s stock market, the target is set quite high.

The executive also added that the firm is planning to launch a Los Angeles-based subsidiary, this will enable them to send a portion of the startup’s operations outside of Canada. Sharing his excitement for a brighter blockchain future, he stated:

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 the 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.

Gharegozolou, like many blockchain enthusiasts, happily compare the technology with the internet and believes that this will surely change the world.  The general partner at Venrock, David Pakman, who was most likely a key candidate in the institution’s involvement in the aforementioned funding round, shares a similar sentiment as Gharegozolou, but with a dash of skepticism on the side. Pakman told the publishing that

Buying and trading cryptocurrencies may be fun for some, but crypto goods promises to be waaaay more fun for the rest of us.

While many have welcomed the result of this funding round, for some it is not that happy scenario. A  London-based banking and securities lawyer, Preston Byrne, who pose a penchant for cryptocurrencies cleared his displeasure of the $15 million funding via a Tweet:

Read more: Top Ten Ethereum Dapps You Should Surely Know About

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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