Recent reports indicate that Dapper Labs has become the first Non -fungible Token (NFT) company to register with the US government as a lobbyist.
With NFT becoming a hot topic among the masses, governments around the world are also taking a serious looking at it, leading to new ramifications for future crypto legislation.
To play a crucial role in how future crypto legislation is shaped in the United States, Dapper Labs has become the first NFT business to register with the US government to lobby. With it, the NFT company joins a growing list of crypto industry heavyweights who have taken to the halls of Congress in an attempt to sway future regulations.
Dapper Labs, situated in Vancouver, offers a number of Non-fungible token (NFT)-based products and DApps. CryptoKitties, a game in which players can breed and raise NFT kittens, and Cheeze Wizards, a tournament series in which collectible characters combat each other, are two examples.
Dapper Labs also has a partnership with the NBA and is in charge of Top Shot, an NFT marketplace where basketball highlights are sold. In the near future, the UFC has collaborated with Dapper Labs to offer a similar service.
Crossroads Strategies has been hired by Dapper Labs as its lobbying agency. According to the corporation, it would advocate for "policy-relevant to NFTs, blockchain, and financial services." In November 2021, Dapper Labs hired Alison Kutler as its new head of government affairs, in addition to hiring a lobbying agency. From June 2015 to April 2017, Kutler served as the head of the Consumer and Governmental Affairs Bureau and a special advisor to the FCC chairman.
According to public disclosures made the day after Dapper Labs' official registration on Tuesday, January 4, 2022, Kutler has also registered to lobby on behalf of the company.
Dapper Labs didn't say much about its plans, but according to their representative Rachel Rogers, it intends to promote education and mainstream use of Web3.
Lobbyists are enthusiastic about future legislation as NFTs become more integrated into popular culture. Regardless, lobbyists and lawmakers will have to continue to debate the impact of blockchain technology on future rules.
Dapper Labs, the producer of NBA Top Shot, is one of the 2021 more mainstream NFT hits. Today, the startup, which was recently valued at $7.6 billion.