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Dapper Labs Partners With Genies To Launch NFT Platform, The Warehouse

Dapper Labs, maker of NBA Top Shot, and digital avatar company, Genies, have launched an ambitious NFT storefront which both companies hope will serve as a hub for web3 digital identity, allowing users to create animated avatars and outfit them with NFT accessories. The new platform, The Warehouse, launched recently to a small network of invite-only users before it gradually goes out to a wider audience in the coming months.

The new project will allow users to outfit 3D cartoon avatars that they create inside the Genies app with masks, shoes, backpacks, and other digital accessories minted on Dapper’s blockchain network called Flow. Genies tells us that the majority of items in the store will be sold for less than $20, though that’s notably just for primary sales; owners of those goods will decide the market for secondary sales of individual items. The Warehouse won’t have its secondary marketplace enabled at launch, an effort the Genies team hopes will give the community some time to focus on the product rather than resale values.

Genies has already experimented with selling digital apparel and accessories inside its native mobile app. Though, that venture did not include a blockchain or NFT-related element.

Genies’ foray into NFT economics is a bet on Dapper’s particular brand of blockchain, one that may be less decentralized than networks like Bitcoin or Ethereum, but one which offers a number of baked-in user benefits, including lower fees, higher transaction capacity, and a developer platform that’s friendly to web3 “luxuries” like processing credit cards and users forgetting their passwords.

(All information was provided by TechCrunch)

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