Dapper Labs, which has launched the NFT NBA Top Shot collection, has announced a partnership with analyst firm Chainalysis to track NFT transactions.
According to a Bloomberg publication, Dapper Labs will use the Chainalysis blockchain analytics tools to monitor non-fungible token (NFT) transactions and ensure better regulatory compliance.
The company plans to use the Chainalysis Know Your Transaction (KYT) and Reactor tools to flag suspicious activity and investigate it. Dapper Labs Deputy Director of Compliance, Naeem Bawla, said:
“NFT is one of the most exciting destinations in the cryptocurrency industry. It will only be successful in the long term if we can provide a secure infrastructure for our clients. We are delighted to partner with Chainalysis to discourage potential attackers, combat money laundering and comply with rapidly evolving local and global regulations. ”
The popularity of NFT has been growing in recent months. Non-fungible token sales increased to $ 10.7 billion in Q3 2021 – eight times the previous quarter. At the same time, collectible NFTs are the most popular.
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