Tag: dapper labs

Disney, Dapper Labs Team Up to Launch Digital Collectibles App, but Avoid the Term ‘NFT’

Disney has teamed up with Web3 gaming studio Dapper Labs to launch an app for fans to gather digital collectibles. The ‘Disney Pinnacle’ app is aimed at letting Disney fans digitise pin collections. Small and portable, Disney pins come in a variety of designs and represent popular Disney characters, movies, and theme park attractions. The initiative, however, has tried to keep away from the term ‘NFT’ — digital tokens infamous for their volatile nature in terms of value.

Disney Pinnacle will let fans purchase pins that are digital versions of those physical pins that remain popular at Disney amusement parks, AdAge said in a report on Tuesday.

The Disney-Dapper duo have opened a waitlist programme for interested people to register for an early access to the Disney Pinnacle mobile app.

“As the technology gets better we can sort of abstract it out more, so the word ‘NFT’ doesn’t show up anywhere in the product. The open nature of Web3 platforms is why we can have the full authenticity, and guaranteed tradability, and full ownership, and all of these features, that set these products apart from stickers in WhatsApp or whatever it might be,” Roham Gharegozlou, CEO of Dapper Labs, was quoted as commenting on the development.

Instead of NFTs, these digital Disney pins will be referred to as ‘digital collectibles.’ The duo’s decision to maintain a distance from the NFT tag could likely be an attempt to stay away from the uncertainty and suspicion surrounding NFTs. A recent dappGambl report claimed that most NFTs had lost their values in the backdrop of a shaky Web3 market.

All the digital pins that will be made available through this programme, meanwhile, will be based on Disney’s original intellectual property and will be minted on the Flow blockchain. Collectors will be given a platform, via the app, to buy and trade pins with others. They will be required to register themselves onto the Dapper wallet ecosystem that will be accessible from within the app.

Disney has been trying to test the Web3 waters for a while now. In February last year, the entertainment conglomerate had hired new executives to chalk out profitable metaverse strategies. The company was also looking to onboard corporate lawyers to tackle legal work around emerging technologies like NFTs and the metaverse.

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Dapper Labs Suspends Russian Accounts From Accessing Services to Comply With Latest EU Sanctions

The NBA Top Shot creator Dapper Labs has suspended accounts with connections to Russia citing the EU tightening of the sanctions. The sanctions prohibit companies from offering crypto wallet, account and custody services to accounts with connections to Russia, Dapper Labs said in a statement. It added that its payment service is based in the EU, which has directed it to comply with the sanctions. The company said it is restricting Russian accounts from being able to buy, sell or gift NFTs, as well as make other purchases or withdraw non-fungible tokens (NFTs) from the platform.

Dapper Labs added that while users cannot access their NFTs, they still own them and can continue to view them. “Dapper has not closed the accounts. Users impacted by these actions can continue to access and view their NFTs. Additionally, regardless of this new regulation, any NFT previously purchased by an impacted user continues to belong to that user,” the firm stated.

The firm outlined that as its “payment processing and stored value service partner is subject to EU regulations.” Dapper has been directed to impose the restrictions on these accounts under the EU law.

“However, Dapper has not closed the accounts. Users impacted by these actions can continue to access and view their NFTs. Additionally, regardless of this new regulation, any NFT previously purchased by an impacted user continues to belong to that user,” the firm stated.

The statement comes after multiple crypto users complained that they could no longer access their accounts, and revealed email correspondence from Dapper Labs about the restrictions.

Announced on October 6, the latest set of EU sanctions on Russia stipulates a full ban on the provision of crypto-asset wallets, accounts and custody services, regardless of the total value of the assets.

Meanwhile, Russia is still trying to navigate through the plethora of sanctions against it. As a result, the country is now considering using the digital RUB in international deals with Russia. This is even though it is still in the pilot phase of unveiling its CBDC development. With plans to use the digital RUB for mutual settlements by 2023, the central bank is now testing it for bank settlement.

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Ticketmaster Partners With Dapper Labs’ Flow Blockchain for NFT Ticketing Project

Ticketing giant Ticketmaster has announced that it will adopt the Flow blockchain from Dapper Labs for minting tickets as non-fungible tokens (NFTs) for select events. Using the Flow blockchain, Ticketmaster will be able to mint NFTs for ticket holders before, during or after events that will provide “proof of attendance” for ticket holders. The tickets can then be traded and sold in the future as they will retain value, like real-world memorabilia, but they could also be used to unlock premium virtual content related to the event and possibly discounts for future tickets or merchandise.

Over the past six months, Dapper Labs and Ticketmaster quietly launched an NFT pilot program. In it, Ticketmaster automatically issued ticket NFTs as memorabilia to attendees of specific events like the Super Bowl LVI this year. In the pilot program, more than five million Flow NFTs were minted in a six-month period, according to Dapper, and the events have included the Apollo Theater, Sebastian Maniscalco, The Black Crowes and Gavin DeGraw.

With the partnership, Ticketmaster has created a digital wallet and marketplace for users to store their commemorative NFTs. Using the wallet and a gallery, users will be able to view and display their tickets – ideally in the sort of way that people who have gone to concerts and events would show off posters or T-shirts from attendance to their friends.

“Event organisers who choose to offer fans an NFT with their ticket have a real opportunity to make this new technology relevant and relatable at scale,” said Brendan Lynch, Ticketmaster EVP of Enterprise and Revenue, in a blog post. “This is why we are partnering with Flow, because their blockchain is custom-built for fan engagement and frictionless consumer experiences.”

Dapper Labs is best known for NBA Top Shot, a marketplace where sports fans can buy, sell and trade NFTs featuring basketball video clips. Initially introduced in 2020, NBA Top Shot also launched on the Flow blockchain and has grown to over 1.5 million users and 20 million marketplace transactions and $1 billion (roughly Rs. 8,000 crore) in total volume traded.

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Dapper Labs Raises $725 Million Fund to Help Expand Flow Blockchain Ecosystem

Dapper Labs, the Web 3 platform powering popular blockchain-based trading card platform NBA Top Shot, has unveiled a $725 million (roughly Rs. 5,600 crore) ecosystem fund to invest in applications and growth for its layer-1 blockchain ecosystem named Flow. The fund is the largest joint commitment made toward any blockchain ecosystem, the company said in a statement. Participants include venture capital firm Andreessen Horowitz aka a16z, Coatue, CoinFund, Greenfield One, Liberty City Ventures, Digital Currency Group, and Union Square Ventures.

According to a press release, the money will be used for token grants, incubator programs, and other resources to support the “gaming, infrastructure, decentralised finance, content and creators” in the Flow ecosystem.

Announcing the raise, Dapper Labs CEO Roham Gharegozlou said, “We are thrilled to see such a strong vote of confidence in the Flow ecosystem from some of the world’s leading investors in Web 3 through their commitment to this fund. With their active participation and support, the Ecosystem Fund has the opportunity to become a real game-changer for the 7,500+ strong and fast-growing developer community in the Flow ecosystem.”

Dapper Labs is the original creator of Flow, the blockchain ecosystem that powers its NBA Top Shot, NFL All Day, and UFC Strike non-fungible token (NFT) collectibles platforms. However, Flow also plays host to a variety of other projects — ranging from avatar platform Genies to kid-centric NFTs from Zigazoo — and has evolved into an open, decentralised platform for Web 3 apps.

In late 2017, the company made headlines after its first game, CryptoKitties, exploded in popularity and triggered a major congestion crisis on the Ethereum network. According to some estimates, CryptoKitties had around 1.5 million active users at its height before falling from grace and becoming inaccessible for most users due to Ethereum’s soaring transaction fees.

According to data on Flow’s official website, the network currently hosts over 1,000 active projects and 175,000 daily active users, which is still orders of magnitude lower than Ethereum and other leading Layer 1 blockchains like Solana and BNB Chain.



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