Vancouver’s Dapper Labs today announced $11 million in funding and the development of Flow, a new blockchain built to enable decentralized applications at scale.
Dapper Labs is the creator of uber-successful CryptoKitties and upcoming projects such as NBA Top Shot. CryptoKitties is a blockchain game on Ethereum developed by venture studio Axiom Zen that allows players to purchase, collect, breed and sell virtual cats.
The largest investor in the financing round was Andreessen Horowitz’s crypto fund, with participation from new investors Accomplice, AppWorks, Autonomous Partners, Fenbushi Digital, and Warner Music Group, as well as existing investors Union Square Ventures, Vancouver’s own Version One Ventures, and more.
Flow was developed by Dapper Labs as a solution to the problem of blockchain scalability for consumer applications like games and digital collectibles.
“After almost two years of research, we’re excited to share Flow with the world,” said Roham Gharegozlou, CEO of Dapper Labs.
“Flow is a blockchain built from the ground up to support high performance ecosystems of apps and games without compromising decentralization. Bitcoin and Ethereum show how crypto can make the world of finance more open and transparent; Flow will do the same for consumers of entertainment and culture.”
Some of the types of experiences Flow will support include artists and bands using crypto tokens to reward fans and platforms for sports fans around the world to trade verified, authentic, limited-edition digital memorabilia in real-time.
Dapper Labs also announced partnerships with leading entertainment publishers to ensure Flow is ready for enterprise-scale use-cases.
Ubisoft, well known for developing games like Far Cry, Just Dance and Assassin’s Creed, is advising on Flow, providing valuable industry feedback.
Flow will launch in 2020.