Dapper Labs, the developer of some very popular non-fungible token (NFT) projects like CryptoKitties and NBA Top Shots, has just partnered with blockchain analytics firm Chainalysis.
The two companies will work together to combat money laundering and market manipulation in the world of NFTs, according to the press release published on October 7.
Dapper Labs will use KYT (Know Your Transaction) and Reactor, both compliance tools from Chainalysis. This allows Dapper Labs to detect suspicious transactions and conduct more in-depth investigations on these transactions.
Dapper Labs expects that the amount of illegal transactions may increase in the future as NFT reaches mainstream adoption. Lana Schwartzman, Chief Compliance Officer of Dapper Labs, said the following about the partnership:
“We are excited to partner with Chainalysis to keep potential bad actors off our platform, fight money laundering while staying abreast of rapidly evolving local and global regulations and compliance. We look forward to partnering with Chainalysis as we bring new digital engagement opportunities to market thanks to the success of NBA Top Shot and CryptoKitties.”
In related news, Chainalysis announces it has acquired Excygent, a specialist services provider that assists government agencies in investigating cybercrime.
We are thrilled to announce that Chainalysis has acquired Excygent, a specialized professional services firm that assists government agencies with cybercrime investigations, data processing, and lead generation. https://t.co/1J7hCmLrM1
— Chainalysis (@chainalysis) October 5, 2021
Dapper Labs recently received a whopping $250 million in funding and announced partnerships with the NFL, the U.S. football league and LaLiga, or Primera División, the Spanish football league. In addition, Dapper Labs is announcing that it will partner with Brud, a platform for “virtual” influencers.”
The Future of [X] is decentralized.
Our new business unit Dapper Collectives will help to bring decentralized organizations to the mainstream#DAO
Read our latest from @roham https://t.co/5aucbXGXQV
— Dapper Labs (@dapperlabs) October 5, 2021