Dapper Labs, the startup behind NBA Top Shot, has announced that it is partnering with blockchain analytics company Chainalysis.
Dapper Labs will use Chainalysis’ blockchain analytics tools to monitor transactions and ensure better compliance with regulatory guidelines. In particular, Dapper Labs plans to use Chainalysis’ tools Know Your Transaction (KYT) and Reactor to flag suspicious activity and investigate these interactions, respectively.
“NFTs are one of the most exciting spaces in cryptocurrency, but they will only be successful in the long run if we can ensure a secure environment for our customers,” said a statement shared by Naeem Bawla, Dapper Labs’ associate director of compliance.” We are excited to partner with Chainalysis to keep potential bad actors off our platform and combat money laundering, while, at the same time, staying on top of the rapidly evolving local and global regulatory and compliance landscape.”
Dapper Labs also announced plans to launch another NFT platform that will focus on American football sports highlights. The new NFT project is expected to launch in early 2022.