• Chainalysis announces a long-term collaboration with Dapper Labs to monitor NFT transactions

  • Dapper Labs, the company behind NBA Top Shot, announced a partnership with Chainalysis, a blockchain analytics firm, on Thursday.

    Dapper Labs will use Chainalysis’ blockchain analytics tools to monitor transactions and ensure better regulatory compliance. Dapper Labs intends to use Chainalysis’ tools Know Your Transaction (KYT) and Reactor in particular to detect and investigate suspicious activity.

    “NFTs are one of the most exciting areas of cryptocurrency, but they will only be successful in the long run if we can ensure a safe environment for our customers,” said Naeem Bawla, Dapper Labs’ Associate Director of Compliance, in a statement shared with The Block. “We’re excited to work with Chainalysis to keep potential bad actors off our platform, combat money laundering, and stay on top of the rapidly changing local and global regulatory and compliance landscape.”

    Dapper Labs also announced plans to launch a new NFT platform focused on American football sports highlights. The new NFT project is scheduled to begin in early 2022.

    What's your reaction?