Dapper Labs continues to rake in big-name partnerships for its Flow blockchain. On Thursday, Ticketmaster announced it's expanding its relationship with Flow to allow organizers to issue digital collectibles before, during and after live events.
The feature gives fans the opportunity to buy digital keepsakes that can be activated to access unique loyalty rewards, VIP opportunities and more, while organizers get a new way to engage with fans, Ticketmaster says.
The pair previously partnered for Super Bowl LVI, where they distributed 70,000 commemorative NFTs for attendees. To date, Ticketmaster has minted more than 5 million NFTs for organizers on Flow.
Finding Its Flow
Dapper Labs is leading the sports-crypto race and is behind some of the biggest projects for officially licensed NFTs. It has partnerships with the NBA, NFL, UFC and Spain's La Liga soccer league. Its NBA Top Shot line of NFTs, which are essentially digital trading cards of highlight clips, have recorded around $1 billion in transactions.
The company received a boost last month after Meta Platforms announced its NFT rollout across 100 countries. The company formerly known as Facebook had been testing NFT support for Instagram and its namesake social media platform for the past few months. And it launched its digital collectibles showcase on Facebook and Instagram earlier this week, which allows integration with CoinbaseWallet and Flow.
Dapper Labs' FLOW token is the native cryptocurrency for the Flow network and blockchain. Flow's platform uses smart contracts that allow developers to create their own apps, games and non-fungible tokens.
FLOW tumbled along with the broader crypto prices over the past month and is down about 33% from its mid-August high of $3.01. It's trading well below its all-time high of $39.04 from March 2021 and is down 77.6% year to date. But Dapper Labs still managed to raise $725 million in its latest funding round back in May, putting its value at $7.6 billion.
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