Dapper Labs – the company behind CryptoKitties – has a simple mission. They want to introduce a billion people to blockchain.
“The reason we decided to go for entertainment — specifically games — is because we felt that it’s just a much easier way to introduce folks to decentralization,” explains co-founder Mik Naayem. “Gamers are the perfect target market as they already understand virtual currencies and virtual worlds.”
In November 2017 CryptoKitties was Dapper Labs’ Trojan Cat, and the game introduced the revolutionary concept of NFTs (Non Fungible Tokens) to hundreds of thousands of people who had never used the word “fungible” in their lives.
It is widely believed, at least by those in the blockchain industry, that these unique or scarce digital objects have the potential to transform the internet and underpin new virtual economies. Dapper is now leveraging the power of major sports, entertainment and music brands — including the National Basketball Association and Warner Music — to help draw their passionate fans into blockchain too.
The NBA isn’t the only major organization excited about NFTs. Some of the biggest brands on the planet are developing blockchain based games, collectibles and virtual worlds including Formula 1, MotoGP, Atari, Ultimate Fighting Championship, Nike, and even Shaun The Sheep.
It’s a massive opportunity with the potential to bring about adoption by mainstream users.
Between them Fortnite and Minecraft alone have 300 million users per month — a user base that dwarfs the 16 million blockchain wallet users per month. Formula 1 reached 471 million unique viewers in 2019. And the NBA claims to reach over a billion people.
Games generated revenue of $150 billion last year and if blockchain is adopted by the gaming and collectibles industries — and marketed by global brands — in the way believers think it will be, then NFTs may well be blockchain’s killer app.
The revolution will be gamified