Google has made the headlines as they will be partnering up with Canadian blockchain studio Dapper Labs in a bid to support the development of new Web 3 products and services which will be including the non-fungible token (NFT) marketplace.
Google Cloud will be serving as the network operator for Dapper Labs’ Flow blockchain, the scalable infrastructure that is responsible for the entire ecosystem of NFTs, games and apps, which is part of the deal made between the two companies, with casinos online spectating.
Vice president of Google Cloud North America, Janet Kennedy confirmed that the multi-year partnership will also help Dapper Labs expand its operations through “scalable, secure infrastructure” which will be provided by its new partner.
Google mad is easy for Flow developers to integrate with the software, which will offer them more incentive to pick Google Cloud over their main competitors like Amazon Web Services.
Roham Gharegozlou, CEO of Dapper Labs, took to the media to announce their partnership with Google while welcoming the latter to the Flow blockchain.
“Amped to welcome Google to @flow_blockchain
– 2.2M unique wallets, less than half from @nbatopshot
– 248 mainnet contracts (cf @flowverse_)
– 18.5M blocks and 49.7M tx
“Now with 3000+ new devs building, Google jumps onboard to help scale.” https://twitter.com/roham/status/1437779690652065806?s=20
Dapper’s Flow blockchain supports popular NFT collections on the market, which includes NBA Top Shot and Cryto Kitties. Back in February this year, the NBA Top Shot was able to generate $230 million in sales, a figure that almost tripled to $680 million, according to the report from Forbes.
Realizing the huge potential of NFTs, NBA legendary figures Michael Jordan and Kevin Durant lined up with other investors in backing Dapper’s $305 million funding round earlier this year. The NFT company was valued at $2.6 billion at the time, according to kingjohnnie.
It didn’t take long for NFTs to grow from a secluded area of the crypto industry to become a multi-billion-dollar market. August proved to be the groundbreaking month for the NFT market, as it recorded 30-day sales which eclipsed $2 billion.
In the business section, many NFT-based companies successfully closed huge funding rounds this year, with reports of NFT company Recur closing a $50 million Series A which was backed by billionaire Steve Cohen’s family office, and ended up taking a huge leap in its valuation to $333 million this year.
The NFT world will only continue to grow immensely and this is only the beginning for Dapper Labs as it is only going to increase in its valuation. Be expecting another leap in value following this partnership with Google.