Earlier this week, NFT marketplace monster and Flow blockchain creator Dapper Labs became the first NFT company to federally register to lobby with the U.S. government.
Let’s take a step back to review more about Dapper Labs, and what this move means looking forward.
Dapper Labs & What They Offer
Dapper joins a growing list of influential firms within the crypto industry that plan to change rules and impact new policies. Based in Vancouver, Canada, Dapper Labs offers a variety of non-fungible token(NFT)-based products and dApps.
The company is mostly known as the maker of NBA Top Shot, which allows users to buy digital cards that represent NBA players and moments. Users can then buy and sell some of their cards to other players. The value of these digital collectibles can go up and down over time based on athlete and performance, and general market movement. Dapper has partnerships with many sports organizations such as La Liga and the UFC, and is currently unrolling it’s NFL product.
FLOW is the Dapper Labs-created blockchain that like many altcoins lately, have been reeled back a bit; however, FLOW is undoubtedly taking a strong position in the NFT market. | FLOW-USD on TradingView.com
Dapper Labs & W
With tax season right around the corner, and increased government chatter around crypto globally, many people in the crypto world are waking up to news of heavy regulations and policies (as well as confusion and uncertainty), particularly in the U.S. According to the details of reports this week, Dapper Labs has recruited Crossroads Strategies as their lobbying firm.
The company has said that they strive to promote “education and mainstream adoption of Web3.”
Emerging reports have stated that Dapper will look to lobby for “policy related to NFTs, blockchain and financial services.” Dapper Labs also recruited Alison Kutler as its new head of government affairs back in November, a former chief of the Consumer and Governmental Affairs Bureau and special advisor to the chairman of the FCC from June 2015 to April 2017.
The firm is clearly stepping in new territory as they become one of the first to make this push towards working with a clear understanding for all. Other crypto groups have taken a similar stance with the U.S. government as well, though without listing NFTs specifically as a subject matter on which they would lobby.
Many (arguably, most) federal officials have no clue who Dapper Labs is, but this chess move will start the push in 2022 to get broader governments on board with crypto, NFTs, blockchain technology, etc. While some argue that governments addressing crypto goes against core principles of crypto, it’s likely an eventuality – whether you like it or not.