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2021-10-07
NEW YORK, October 8, 2021 / PRNewswire / – Chainalysis, the blockchain data platform, today announced a long-term partnership with Dapper Labs, creator of CryptoKitties and NBA Top Shot, to use Chainalysis products to aid their business and compliance decisions. Dapper Labs reached out to Chainalysis for a clearer view of the transactions taking place on their platform in order to establish a comprehensive compliance and regulation management process.
As the NFT ecosystem is experiencing rapid growth and transformation, market leaders like Dapper Labs are bringing new and engaging experiences to the blockchain for wider adoption. However, growing consumer access to cryptocurrency requires careful consideration of the funds used to purchase NFTs and the deployment of a comprehensive compliance monitoring solution that can help detect and prevent NFT money laundering and market manipulation.
“Ultimately, our team at Chainalysis is preparing for a world where all kinds of values flow on blockchains: art, games, business transactions and other unique digital experiences,” said Jonathan Levin, Co-Founder and Chief Strategy Officer, Chainalysis. “We are excited to partner with a leader to bring the world of entertainment to the blockchain, and look forward to helping Dapper Labs scale its compliance processes as the company opens up new use cases for consumers.”
The two cryptocurrency compliance tools at the forefront of this partnership – Chainalysis KYT and Chainalysis Reactor – enable companies like Dapper Labs to leverage Chainalysis data to meet a wide variety of their current compliance needs. Chainalysis KYT identifies risky and illegal activity in real time, while Chainalysis Reactor enables deeper investigation of these transactions. These tools can help Dapper Labs gain a deeper understanding of the funds used to purchase NFTs to combat criminal activity on the blockchain.
“NFTs are one of the most exciting areas of cryptocurrency, but they will only be successful in the long term if we can guarantee our customers a safe environment,” said Naeem Bawla, Associate Director of Compliance, Dapper Labs. “We are very excited to partner with Chainalysis to keep potential villains off our platform, fight money laundering, and at the same time keep track of the rapidly evolving local and global regulatory and compliance area. We look forward to working with Chainalysis as we bring new digital engagement opportunities to market based on the success of NBA Top Shot and CryptoKitties, “said Lana Schwartzman, Chief Compliance Officer, Dapper Labs.
About chain analysis
Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Our data backs investigative, compliance, and market intelligence software that has been used to solve some of the world’s most iconic criminal cases and securely improve consumer access to cryptocurrency. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit and other leading venture capital companies, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. More information is available at www.chainalysis.com.
About Dapper Labs
Dapper Labs, the company behind NBA Top Shot and the original creators of the Flow blockchain, is leveraging blockchain technology to bring NFTs and new forms of digital engagement to fans around the world. Since its inception in 2018, Dapper Labs has empowered consumer enthusiasts with real engagement in the game by bringing them closer to the brands they love, engaging and engaging communities to contribute, and opening new avenues for them to be creators will . Dapper Labs’ current studio partners include the NBA, NBPA, WNBA, WNBPA, Warner Music Group, Ubisoft, Genies and UFC. Notable investors in Dapper Labs include Andreessen Horowitz, Coatue, Union Square Ventures, Venrock, Google Ventures (GV), Samsung and the founders of Dreamworks, Reddit, Coinbase, Zynga and AngelList. For more information on Dapper Labs’ products and mission, please visit dapperlabs.com.
SOURCE Chainalysis, Inc.
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