Flow was developed by Dapper Labs as a solution to the
problem of blockchain scalability for consumer applications like games and
digital collectibles

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

HONG KONG, CHINA -�Media OutReach�- 16 September
2019 -�Dapper Labs, the company behind CryptoKitties and upcoming
projects such as NBA Top Shot, today announced $11M in funding and the
development of Flow, a new blockchain built to enable decentralized applications
at scale.

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

"After almost two years of research, we're excited to share
Flow with the world," said Roham Gharegozlou, CEO of Dapper Labs. "Flow is a
blockchain built from the ground up to support high performance ecosystems of
apps and games without compromising decentralization. Bitcoin and Ethereum show
how crypto can make the world of finance more open and transparent; Flow will
do 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 new
ways to show their fandom; games that reward players for adding value and
enable interoperability with assets and identities that users can take across
environments; 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 for
our artists and has dedicated itself to exploring emerging technologies to
enable these," said Jeff Bronikowski, SVP, Global Digital Business Development
and Head of Innovation and Emerging Technology at Warner Music Group. "When we
met with Dapper Labs, they immediately understood our vision so we sought to
solidify the partnership through this strategic investment."

In addition to the new investment, Dapper Labs is announcing
partnerships with leading entertainment publishers to ensure Flow is ready for
enterprise-scale use-cases. Ubisoft, well known for developing games like Far
Cry, Just Dance and Assassin's Creed, is advising on Flow, providing valuable
industry feedback.

"When it comes to new technologies and innovation, Ubisoft
has always favored a collaborative approach," said Nicolas Pouard, Blockchain
Initiative Director at Ubisoft's
Strategic Innovation Lab. "We are eager to learn more from Dapper Labs,
some of the most talented pioneers in the field of blockchain-gaming, while
bringing our own experience of the gaming industry and triple-A development. As
a player-centric technology, we believe blockchain can help make players true
stakeholders and we can't wait to see what we will achieve with this
partnership."

Animoca Brands, a renowned game developer and publisher who
is currently developing a number of crypto games including F1^� Delta
Time 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 consumer
entertainment.

"We believe that crypto is the future of the gaming
industry," said Yat Siu, co-founder and chairman of Animoca Brands. "In order
to support the scale expected from games that reach and are adopted by
mainstream consumers, we need a strong platform that takes into account the
needs of developers and the superpowers of decentralized entertainment, which
is why we will work with Dapper Labs to build fun, accessible experiences on
Flow."

Flow will launch in 2020, in time to support many of the
company's large-scale, consumer-facing entertainment, music, and gaming
projects 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 make
the world more open and trustworthy by introducing consumers to the value of
blockchain technology through fun and games. Dapper Labs is the team behind
CryptoKitties, one of the first and most successful blockchain applications
outside of cryptocurrency, and Dapper, the world's first publicly available
smart wallet. Upcoming Dapper Labs projects include Cheeze Wizards, the world's
first blockchain-based battle royale, NBA Top Shot, a platform created in
partnership with the NBA and NBPA, and Flow, a consumer-based blockchain for
decentralized applications. With over $40M in financing, notable investors in
Dapper 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 Dapper
Labs, visit www.dapperlabs.com.