Dapper Labs, the team behind the first major blockchain collectibles game, CryptoKitties, is launching its own blockchain.
1/ Introducing Flow – the blockchain for open worlds.https://t.co/65iR7ANOkp
— Flow Network (@withflow_) September 12, 2019
According to a recent announcement, the new blockchain will be called “Flow,” and is designed specifically to support an ecosystem of apps, games and digital assets.
Dapper Labs wants Flow to stand apart from traditional blockchain platforms through a pipelined architecture that separates the jobs typically done by a single node across five different node types, which in theory should reduce redundant effort and improving efficiency. To accomplish this, they have developed a new cryptographic technique called Specialized Proofs of Confidential Knowledge (SPoCKs).
While Dapper Labs wants Flow to co-exist with the Ethereum (ETH) network, the team also plans to acquire content creators and the gaming market.
“Examples of experiences that can be powered by Flow include: artists or bands using crypto tokens to give millions of fans unprecedented new ways to show their fandom; games that reward players for adding value and enable assets and identities that users can take across infinite open environments; or platforms for sports fans around the world to trade verified, authentic, limited-edition digital memorabilia in real-time,” reads the announcement.
Dapper Labs notes that major entities including Warner Music Group and Ubisoft are already planning on building on Flow.
Along with the reveal, Dapper Labs also announced a $11 million investment round led by Andreessen Horowitz’s crypto fund and Accomplice, with additional participation by Warner Music Group, Union Square Ventures, Venrock, AppWorks, Digital Currency Group, Autonomous Partners, Fenbushi Digital, Animoca Brands, SV Angel, Version One, CMT and CoinFund, among others.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.