Flow was developed by Dapper Labs as a solution to theproblem of blockchain scalability for consumer applications like games anddigital collectibles

In addition to launching Flow, company also announces$11M in new funding, as well as new partnerships with leading entertainmentpublishers like Warner Music Group, Ubisoft, Animoca Brands and more

HONG KONG, CHINA - Media OutReach - 16 September2019 - Dapper Labs, the company behind CryptoKitties and upcomingprojects such as NBA Top Shot, today announced $11M in funding and thedevelopment of Flow, a new blockchain built to enable decentralized applicationsat scale.

The largest investor in the round was Andreessen Horowitz'scrypto fund, with participation from new investors Accomplice, AppWorks,Autonomous Partners, Fenbushi Digital, and Warner Music Group, as well asexisting investors Union Square Ventures, Venrock, Digital Currency Group,Animoca Brands, SV Angel, Version One, and CoinFund, among others. Angelinvestors who participated in this round included William Mougayar, James andGlenn Hutchins, Don Mattrick, and Nanon de Gaspe Beaubien-Mattrick.

"After almost two years of research, we're excited to shareFlow with the world," said Roham Gharegozlou, CEO of Dapper Labs. "Flow is ablockchain built from the ground up to support high performance ecosystems ofapps and games without compromising decentralization. Bitcoin and Ethereum showhow crypto can make the world of finance more open and transparent; Flow willdo the same for consumers of entertainment and culture."

Some of the types of experiences Flow will support include:artists or bands using crypto tokens to give music lovers unprecedented newways to show their fandom; games that reward players for adding value andenable interoperability with assets and identities that users can take acrossenvironments; or platforms for sports fans around the world to trade verified,authentic, limited-edition digital memorabilia in real-time.

"Warner Music is always searching for new opportunities forour artists and has dedicated itself to exploring emerging technologies toenable these," said Jeff Bronikowski, SVP, Global Digital Business Developmentand Head of Innovation and Emerging Technology at Warner Music Group. "When wemet with Dapper Labs, they immediately understood our vision so we sought tosolidify the partnership through this strategic investment."

In addition to the new investment, Dapper Labs is announcingpartnerships with leading entertainment publishers to ensure Flow is ready forenterprise-scale use-cases. Ubisoft, well known for developing games like FarCry, Just Dance and Assassin's Creed, is advising on Flow, providing valuableindustry feedback.

"When it comes to new technologies and innovation, Ubisofthas always favored a collaborative approach," said Nicolas Pouard, BlockchainInitiative Director at Ubisoft'sStrategic Innovation Lab. "We are eager to learn more from Dapper Labs,some of the most talented pioneers in the field of blockchain-gaming, whilebringing our own experience of the gaming industry and triple-A development. Asa player-centric technology, we believe blockchain can help make players truestakeholders and we can't wait to see what we will achieve with thispartnership."

Animoca Brands, a renowned game developer and publisher whois currently developing a number of crypto games including F1^® DeltaTime and The Sandbox, will be one of the first game companies to build on Flow.These companies will contribute to making Flow a strong platform for consumerentertainment.

"We believe that crypto is the future of the gamingindustry," said Yat Siu, co-founder and chairman of Animoca Brands. "In orderto support the scale expected from games that reach and are adopted bymainstream consumers, we need a strong platform that takes into account theneeds of developers and the superpowers of decentralized entertainment, whichis why we will work with Dapper Labs to build fun, accessible experiences onFlow."

Flow will launch in 2020, in time to support many of thecompany's large-scale, consumer-facing entertainment, music, and gamingprojects in the works. For more information about Flow, please visit www.buildwithflow.com.

About Dapper Labs

Formed in February 2018, Dapper Labs mission is to makethe world more open and trustworthy by introducing consumers to the value ofblockchain technology through fun and games. Dapper Labs is the team behindCryptoKitties, one of the first and most successful blockchain applicationsoutside of cryptocurrency, and Dapper, the world's first publicly availablesmart wallet. Upcoming Dapper Labs projects include Cheeze Wizards, the world'sfirst blockchain-based battle royale, NBA Top Shot, a platform created inpartnership with the NBA and NBPA, and Flow, a consumer-based blockchain fordecentralized applications. With over $40M in financing, notable investors inDapper Labs include Andreessen Horowitz, Union Square Ventures, Venrock, GV(formerly known as Google Ventures), and the founders of Dreamworks, Reddit,Coinbase, Zynga, and AngelList, among others. For more information on DapperLabs, visit www.dapperlabs.com.