Canadian startup Dapper Labs has developed a number of games, blockchain networks, and NFT digital collectibles platforms. Its platform, backed by patent-pending technology uses a more efficient consensus that may prove to be even more valuable as NFT markets expand. The company's most popular product is NBA Top Shot, which allows users to buy and sell game highlights backed by a non-fungible token. The latest funding round raised $305M from VC funds as well as professional athletes and celebrities, bringing total funding to $357M.
Is Dapper Labs exposed to competition? It has only one patent application for scalable decentralized computation, which is an important backbone for platform development. The invention is focused on efficiency, moving away from the energy-intensive Proof of Work (PoW) consensus. As NFT becomes more popular, artists have expressed concern about environmental impact. Dapper Labs' alternative methods may prove to be even more attractive for building future cryptocurrency and blockchain platforms, and save the planet at the same time. NFT art and related markets are exploding; the patent investment boom has only begun. Other NFT sports platforms such as Verasity have a huge lead. Dapper Labs has to step up its patent game.
You can follow this company and more on the Cryptocurrency Patent Forecast®
.