![]() This also coincided with a crash in bitcoin prices - another "crypto winter" that saw prices fall some 80% from a peak in December 2017 to December 2018. The median value of CryptoKitties had fallen from $41 to about $5 by June 2018. "We were getting nasty emails from people saying they were annoyed we built this thing because we were ruining the network for everyone else."Īt the same time, the popularity of the digital felines was fading. Here we were, we built this silly cat game and after a few tens of thousands of users pushed blockchain to the absolute limit," said Shirley, a former Apple engineer. Other startups were raising millions, "promising to revolutionize the industry with blockchain technology built on Ethereum. "We were frankly stunned by how few users it took to destroy Ethereum's ability to handle more traffic," said Dieter Shirley, CTO at Dapper Labs. While figuring out a new app to build, they decided that Ethereum was not built for the volume of a large consumer app. But that step has meant Dapper holds the potential to capitalize on crypto and the NFT craze the way few companies can.Īfter the CryptoKitties episode, Dapper Labs, which spun out of the Axiom Zen studio in Vancouver and in March 2018 raised funding from Andreessen Horowitz, Union Square Ventures and others, realized it had to go a different route. This full-stack approach has critics, who say Dapper Labs is taking on too much. One step: building its own blockchain protocol to avoid a repeat of the CryptoKitties snafu. In November of that year, CryptoKitties was popular enough to slow Ethereum transactions to a crawl, throwing a wrench into other Ethereum apps at a time when the crypto technology was still trying to prove itself.ĭapper Labs, a Vancouver startup, took an unlikely path to winning a major licensing deal with the NBA. It was a phenomenon - and not in a good way. In 2017, Dapper Labs was best known for creating CryptoKitties, the product of a digital cat-breeding app that ran on an Ethereum blockchain. It's also a huge turnaround for the company behind every Top Shot.
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