What Happened: According to a Tuesday Forbes report, Google Cloud partnered with Dapper Labs — which is also the company behind the NBA Top Shot NFT marketplace — to support and scale its own Flow (CRYPTO: FLOW) blockchain. The tech behemoth will act as a network operator and help the network scale further.
The Flow blockchain already supports over 50 applications — including the NFT tokens launched by Dapper Labs. Now thanks to Google’s help, over 2,000 developers building on this chain will be able to connect to this network at a lower latency through Google’s cloud services.
Janet Kennedy, vice president of Google Cloud North America, said “blockchain technology is becoming more and more mainstream” and firms “like Dapper need scalable, secure infrastructure” to grow and support their networks. Dapper Labs CEO Roham Gharegozlou said: “what you’re seeing on blockchain today is the iPhone moment where consumers are starting to understand what’s going on.” Consequently, he sees “tons of opportunity to build everything from the Flappy Bird to the Angry Bird of” this new ecosystem.
With help from Google, Dapper Labs hopes to bring its NFT products to billions of users on its Flow blockchain by leveraging a centralized cloud service. This is in stark contrast with the original crypto vision of infrastructure decentralization, but — like many companies operating in the space — Dapper labs is facing the difficult task of compromising between user experience and security.
Price Action: According to CoinMarketCap data, Flow enjoyed renewed buyer pressure following the report.
The coin skyrocketed from $20.04 to $25.23 in about one hour Wednesday and was trading down 4.5% at $21.83 around 11 a.m.