NBA Creator Top Shot On The NFT Craze And Why Ethereum Still Isn’t Consumer Friendly – TechCrunch

Roham Gharegozlou a has been betting on the potential success of NFTs for years. This year it happened.

Gharegozlou and the team at his startup, Dapper Labs, delivered the world’s first popular blockchain game, CryptoKitties, in 2017. The startup then launched NBA Top Shot at the end of last year, and it quickly took off. caught fire and brought worldwide attention to the crypto collectibles space. .

We caught up with the CEO of Dapper Labs at TechCrunch Disrupt 2021 last week to discuss the challenges facing the crypto space, the future of Ethereum, and how quickly NFTs have exploded this year.

“I knew it would be quick, but NBA Top Shot went from 4,000 to 400,000 users in a matter of weeks,” Gharegozlou said.

The success of Top Shot has made Dapper Labs a corporate darling – the company announced a $ 250 million funding round last week, reaching a valuation of $ 7.6 billion. The massive review isn’t just a bet on Top Shot’s continued success, it’s also a nod to the potential of the platform Dapper Labs is building for other consumer-focused blockchain developers. . The startup built its own blockchain, called Flow, bypassing the popular Ethereum blockchain, on which the vast majority of successful NFT platforms now live. Dapper Labs is betting that this won’t be the case for long.

“For the first year or a year and a half of Dapper Labs, we spent around $ 30 million trying to build on Ethereum. We built Dapper Wallet – the user experience you see on Top Shot, we tried to build it on Ethereum, ”he says. “We realized that there were several problems. There’s the cost, there’s the scale, there’s the throughput, there’s all of those things, but fundamentally it’s all about user experience. The user experience that you build for when designing a protocol and blockchain for financially sophisticated merchants or very hardcore DeFi things are not the same compromises you want when building for mainstream applications.