To prevent money laundering via NFTs, Dapper Labs, creator of NBA Top Shot and CryptoKitties, has partnered with top blockchain analysis firm Chainalysis to track platform activity and deploy AML solutions on its network.
In a published press release on Thursday, Chainalysis announced that Dapper Labs would employ its specific know-your-transaction and reactor tools that would offer Dapper Labs ability to detect suspicious activity and conduct a detailed investigation on them.
Jonathan Levin, Co-Founder and Chief Strategy Officer of Chainalysis, said in a press release:
“Ultimately, our team at Chainalysis is preparing for a world where all types of value will flow on blockchains: art, gaming, business transactions, and other other uniquely engaging digital experiences.”
Naeem Bawla, Associate Director of Compliance, Dapper Labs, added:
“NFTs are one of the most exciting spaces in cryptocurrency, but they will only be successful in the long-term if we can ensure a safe environment for our customers.”