Dapper Labs, a blockchain technology and digital collectibles company, has reached a favorable settlement in the legal case Friel vs. Dapper Labs, establishing that NBA Top Shot Moments are not securities. The company emphasizes that this significant ruling clarifies the legal status of digital collectibles and ensures the continued decentralization of the Flow blockchain. Dapper […]
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Dapper Labs Partners With Disney to Launch NFT Pin-Collecting Platform
Dapper Labs, known for its non-fungible token (NFT) collection NBA Top Shot, has unveiled Disney Pinnacle, its latest endeavor. This new platform is set to transform the traditional pin-collecting hobby into a digital experience, featuring characters from Disney’s long-standing history, Pixar, and the Star Wars universe. Dapper Labs announced the opening of the waitlist for Disney Pinnacle today.
Dapper Labs and Disney Unveil Digital Pin Platform ‘Disney Pinnacle’
In collaboration with Disney, Dapper Labs aims to capitalize on the enduring nostalgic and cultural value of Disney’s iconic characters. The company, on Tuesday, introduced Disney Pinnacle, a new NFT platform that enables enthusiasts to collect, trade, and display digital pins depicting their beloved characters. Dapper Labs’ NFT initiatives are hosted on the Flow blockchain, ranked as the ninth-largest in NFT sales over the past month.
The firm stated that Disney Pinnacle would be accessible on the Apple App Store for iOS devices later this year. This move will permit users to carry their collections on the go and share them across networks. “Disney Pinnacle is an all-new product designed from the ground up to incorporate everything we’ve learned over the past few years,” Roham Gharegozlou, co-founder and CEO of Dapper Labs, mentioned in a statement on Tuesday.
Disney’s foray into the NFT realm isn’t a first-time venture. The company has previously engaged with other blockchain-driven NFT initiatives, including digital collectibles company Veve. In 2021, Disney and Veve released the “Golden Moments” NFT collection, targeting Disney aficionados. The next year, Disney ventured strategically into the metaverse. However, by April 2023, it reportedly dissolved its metaverse division amidst organizational restructuring.
In the last 30 days, Flow has reported sales of ,060,499, a 23.56% increase over the prior week. Flow ranks as the fifth-largest blockchain in lifetime digital collectible sales, accumulating .26 billion. According to cryptoslam.io data, its peak monthly sales were in 2021, though there has been a decline since. While a partnership with Disney could potentially boost sales, Disney itself has faced challenges and was recently satirized on “South Park.”
What do you think about Disney and Dapper Labs launching a digital pin-collecting platform? Share your thoughts and opinions about this subject in the comments section below.
NFT Market Decline Leads To Dapper Labs Laying Off 22% Of The Staff
Crypto Firms such as Dapper Labs are currently feeling the heat of these markets’ downturn. As per a report, Dapper Labs has lost more than 90% of its NBA Top Shot sales volume dating from February 2021 till now.
It appears that the drop in the prices of digital currencies is not the only aspect investors should be concerned about. This is particularly true considering the look of the NFT market recently.
The sales volume of the company’s NBA Top Shot as of February last year was about 4 million, now at .6 million.
Dapper Labs Briefing
The primary objective of Dapper Labs is to provide collectible and tradable basketball highlights using non-fungible tokens. The company carries out its mission through a platform known as NBA Top Shot.
The highlights the company offers already have a license from the NBA, bringing them royalties for every transaction. Some of its notable investors are the renowned basketball legends Kevin Durant and Michael Jordan.
For a better user experience on the platform, the company created its NFT blockchain – Flow. Before now, it depended on the Ethereum network for sales on the platform. But that changed after it created a pet game in 2017 called CryptoKitties.
Crypto Winter Pushes Dapper Labs To Lay-Off Staff Capacity By 22%
Meanwhile, the ongoing NFT market trend seems to be affecting Web3 companies negatively, and Dapper Labs is no exception. The company has decided to drop its staff count. The company revealed this information on November 2, stating that it would reduce its staff capacity by 22%.
According to the firm, the decision is a pretty tough one. However, it stated that the action is quite necessary for the long-term success of its community and business.
Gharegozlou expressed his thoughts about why the company is not nimble, community-driven, and aligned as much as necessary. He cited the reason that the growth of the company was too rapid.
According to Gharegozlou, there’s a need to refocus the organization. He added that such an action would help the company to reach every goal, like being community-driven, web3-native, and mobile-first.
Decline In Dapper Labs’ Market Data
In the meantime, several investors are not showing high interest in NFTs. This fact has brought down the market interest in the company, according to on-chain data. A report on the sales volume of NBA Top Shot cites that there has been a rapid drop from .8 million held around this period in 2021. The current sales volume of the platform is now down to .6 million.
As of February 2021, the marketplace realized about 4 million worth of non-fungible-tokens. The huge gain was recorded during the NFT mania with about 1.2 million transactions and 80,822 buyers.
featured Image from Pixabay and Charts by TradingView
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CryptoKitties’ Dapper Labs Launches NBA Top Shot Public Beta on Flow Blockchain
Dapper Labs, creators of the popular CryptoKitties game and the Flow Blockchain has announced the beta release of its much-anticipated NBA Top Shot. Emerging out of the closed beta phase, the game can now be experienced by consumers from across the world.
According to Dapper Labs, NBA Top Shot has scored high even before it became available to the public. In the recent months, early adopters have purchased more than 43,000 Packs and 10,500 Moments from the marketplace and gifted 29,000 Moments, which is only going to increase as the platform is now available to the public.
Commenting on the public launch of the first blockchain-based collectibles on Flow blockchain, CEO of Dapper Labs Roham Gharegozlou said, “Collecting NBA Top Shots is a lot of fun – and thanks to the Flow blockchain, your collections are worth real money. Further adding, “the NBA Top Shot community is the best I’ve ever worked with people are always happy to help and there are already multiple developers building tools and apps to make the collector experience even better.”
Until now, NBA Top Shot closed beta has had 17,000 invite-only participants having an immersive experience discovering great plays, opening packs to collect rare Moments and dynamic plays of the season, display epic collections and trade with their peers to complete sets and win challenges. Unlike conventional in-game merchandise, the Flow blockchain-based digital collectibles are secured and signify true ownership, allowing the holders to buy, sell or trade them on NBA Top Shot marketplace just like any traditional crypto asset, except that each asset is unique.
Playing NBA Top Shot is simple, all it needs is for the fans to simply log into the website and instantly access a variety of packs that contain Top Shots of different scarcities and rarities. The game receives constant updates in the form of new Moments that are dripped every week to keep it interesting. Even during the closed beta, the introduced early packs and collectibles were sold out within minutes.
“I’m a big believer in the fact that technology can make people’s lives better, and blockchain is one of those kinds of technologies,” said Aaron Gordon, NBA player of Orlando Magic and NBA All-Star Dunk Competition fame. “NBA Top Shot, on a scalable blockchain like Flow, is the first-time fans can own a piece of the on-court action, and who wouldn’t want that?”
The underlying Flow Blockchain of NBA Top Shot is designed ground-up by Dapper Labs based on its experience with the highly successful CryptoKitties. The unique crypto network offers enhanced speed and throughput tailormade to meet the requirements of crypto games by separating the job of crypto-miner or validator into four different roles. It also means that anyone with a reliable internet connection can participate as a validator for Flow at a variety of computational and financial tiers.
Over 9,500 people have committed to participating in the Flow (by Dapper Labs) Community Sale on CoinList in less than two weeks – tracking for the largest number of token sale participants in CoinList history! Bidding is now open for the live auction that will be held on October 6th, at 2 pm CET. More info at https://coinlist.co/flow
Play NBA Top Shot at – www.nbatopshot.com.
Flow Blockchain By Dapper Labs of CryptoKitties Fame to Make NFT-DeFi Based Crypto Games Mainstream
Blockchain technology has made a lot of headway since its inception, leading to the development of hundreds of DApps in DeFi, gaming, content management and plenty of other verticals. While most of these applications utilize the standard features offered by leading blockchains, there are few that have innovated in the space to create an entirely different experience.
The use of conventional blockchains also comes with its own set of challenges and shortcomings, which range from scalability issues to cumbersome development process, and even lax security. It also means that developers are left with very little wiggle room to get creative, especially when it comes to gaming and multimedia Dapps.
Enters Flow, a Blockchain for Next Generation Crypto Games
At the end of 2017, a new blockchain game called CryptoKitties took the blockchain world by storm. A major success, it was one of the earliest attempts to use blockchain for entertainment. Its growing popularity clogged the Ethereum network, causing huge delays in ETH transactions. It was possibly the first time nonfungible tokens (NFTs) were widely used. Since then, the team behind CryptoKitties started Dapper Labs and created a lot of other projects including NBA Top Shot, Dapper Wallet, Cheese Wizard, and more. Flow Blockchain is yet another creation of theirs which is designed based on their learnings over the years, to support the next generation of games, apps and digital assets that power them.
The Flow Blockchain overcomes a lot of issues that are native to mainstream blockchain protocols. It is a layer 1 blockchain solution that is fast, secure, and developer-friendly. By taking into account their experience in building blockchain games, Dapper Labs has woven together NFT and DeFi capabilities into their solution to create an ecosystem that can equally support entertainment and the true digital economy.
The ability of Flow Blockchain to handle complex decentralized systems while maintaining high levels of scalability makes it ideal for the next generation of NFT driven DApps. It uses a novel four-node architecture to optimize speed and cost that can scale with hardware capacity without affecting decentralization or disrupting the network. It is an ideal alternative to the most widely used Ethereum blockchain which is plagued by scaling limitations and high gas costs that are limiting widespread adoption by being slow and expensive.
Unlike other scaling solutions including “Sharding” on ETH 2.0 and NEAR, or Layer 2/sidechains on the Ethereum network, the scalability achieved by Flow neither increases the complexity of DApp development nor does it cause delays in verification on the main chain. The benefits offered by Flow can be directly attributed to its method of storing network state on four nodes instead of all the nodes in the network, while the very multi-node architecture design also increases performance.
A Bright Future Ahead as NFTs and Crypto Games Will Continue to Reign
While people continue to play games, NFTs hold a special place than other in-game purchases as NFT assets are unique, scarce and offer true ownership. As a blockchain asset, they hold value not just within the game and can be owned indefinitely. NFTs can also be traded in the open market and they represent true composability as they can potentially be used across different compatible DApps without having to worry about licensing and other hassles.
The characteristics of NFTs combined with the demand for such games and ease of development offered by platforms like Flow, opens a whole new avenue for developers to create games and monetize them. The tokenomics and distribution mechanics of native FLOW tokens further expands the scope of network participation and applications beyond just entertainment. Apart from allowing the creation of NFTs as secondary tokens, it also enables developers to create governance tokens and stable coins for a whole range of projects they build on Flow Blockchain.
Recognizing the potential of NFT based crypto games to go mainstream, players like Ultimate Fighting Championship, the National Basketball Association, Dr. Seuss, Warner Bros., have already inked partnerships with Flow. Meanwhile, Dapper Labs Is also in the process of migrating their games to the new protocol to offer a far better user experience to its gaming community.
If the current pace of activity on Flow Blockchain is any indication, then it might soon become the go-to platform for all crypto gaming needs, just like the way developers swear by Unity and Unreal Engine as the best platforms to develop video games.
Flow Blockchain currently has a community token offering live on Coinlist.