Warner Music Invests in CryptoKitties Creator, Dapper Labs

Warner Music Group has recently announced that they have invested in Dapper Labs. This investment, which came in to the tune of $11.5 million USD, was completed as Warner Music eyes new markets surrounding digital collectibles and non-fungible tokens. In a digital world, where content pirating is commonplace, blockchain affords the ability to infuse digital content with pre-determined and ensured scarcity. As collectible markets are often driven by rarity, Warner Music believes that this move has potential to open new, lucrative doors. If the name Dapper Labs sounds familiar, this is most likely due to the fact that they are the creators of CryptoKitties. This blockchain based game became wildly popular in late 2017, as users worked to collect unique digital collectible kittens. Beyond its simple popularity, the game gained notoriety due to the fact that it, basically, stalled the Ethereum Network upon launch. While the Ethereum network has grown stronger and more efficient in the time since, a simple game provided a stark reminder at the time that the blockchain industry was, and is, young and unproven.