Canadian blockchain company Dapper Labs, which is mainly known for its NBA top shot card trading system, has scored a major partnership with internet search behemoth Google, Forbes reports.
As part of the deal, Google Cloud acts as the blockchain operator for Dapper Labs, a scalable infrastructure that runs the whole ecosystem of NFTs, games and applications. Janet Kennedy, vice president of Google Cloud North America, said the multi-year partnership will support Dapper increase its activities through the “scalable and secure infrastructure” supported by Google.
Google cloud will act as a network operator offering its infrastructure to help Flow scale, by giving them more incentive to choose Google Cloud over competitors such as Amazon Web Services.
Dapper Labs CEO Roham Qara Gozlu announced his agreement with the partnership on Tuesday, receiving with open arms Google to the Flow blockchain.
Dapper’s Flow blockchain backs up some of the most popular NFT collections on the market, consisting of NBA Top Shot and CryptoKitties. In February of this year, the NBA Top Shot sold $ 230 million. According to Forbes, this figure has almost tripled to $ 680 million.
NBA legends Michael Jordan and Kevin Durant recognized the long-term potential of the NFT, thus, both of them joined other investors to support Dapper’s $ 305 million budget earlier this year. The company was valued at $ 2.6 billion at the time.
NFT has grown from a small, obscure corner of the crypto industry to a multi-billion dollar market in a very short time. According to industry data, August was a record year for the NFT market, with 30-day sales up $ 2 billion.
In the commercial sector, different NFT-focused companies have closed significant financial cycles this year. According to Cointelegraph, NFT Recur lately closed the $ 50 million A-Series with the support of billionaire Steve Cohen’s family office, bringing its whole value to $ 333 million.