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Julie Moraine October 18, 2021 3 min read
DraftKings Marketplace Agrees to Integrate with Polygon
DraftKings Marketplace, a marketplace for non-fungible tokens (NFTs) launched by Boston-based DraftKings, announced today a new collaboration with Ethereum-based platform Polygon.
NFT Drops and Secondary Trading
The blockchain collaboration between Web 3.0 provider Polygon and the digital collectibles ecosystem built by DraftKings will support custom NFT drops, as well as transactions related to secondary-market purchases and sales of NFTs.
The agreement expands on DraftKings Marketplace’s capabilities by adding a scalable, eco-friendly blockchain solution. It also provides the Boston-based company with the option to contribute to governance at its new partner and act as a validator node with its stake pool.
“Scalability and sustainability remain among the critical challenges of blockchain technology, so as we lay the groundwork today for the vision of DraftKings Marketplace tomorrow, the vast insights and proven products from Polygon around scalable solutions are invaluable.”Paul Liberman, Co-Founder and President, Global Product and Technology, DraftKings
Noting that DraftKings Marketplace is still in its early years, Paul Liberman outlined the company’s optimistic view about the possibilities offered by blockchain, NFTs, cryptocurrencies and other new technology developments will present.
“Leveraging Polygon’s technology, DraftKings will be able to expand the variety and capabilities of DraftKings Marketplace for an enhanced user experience with even more exclusive content and drops,” added Polygon co-founder Sandeep Nailwal.
“DraftKings Marketplace already provides fans and collectors with a seamless way to buy and resell authentic digital collectibles within a highly accessible ecosystem, so we look forward to being part of its continued growth.”Sandeep Nailwal, Co-Founder, Polygon
Validator for the Ethereum-Based Platform
The option to become a validator for the Ethereum-based platform will allow DraftKings to participate in Polygon’s proof-of-stake consensus protocol, including producing blocks for the blockchain main network. It will also join the operator’s governance and contribute to the security of the network, establishing a place for itself in Polygon’s future.
DraftKings Marketplace launched in August this year following an earlier announcement that the sports betting and tech supplier company was honing ambitions to launch a dedicated NFT marketplace and offer sports and entertainment-themed digital collectibles to its sizable consumer base.
The first collectibles offered by DraftKings Marketplace were developed in partnership with Tom Brady’s Autograph, offering Preseason Access Collection drops of iconic athletes, among which Tom Brady, Wayne Gretzky, Naomi Osaka, Simone Biles and Derek Jeter, were sold almost immediately.
Available across the US and Canada, DraftKings Marketplace is developing a solution that will allow collectors of NFTs to be able to transfer the NFTs to their wallets on Ethereum Mainnet.
Also in August, Polygon launched Polygon Studios, seeking to build awareness of the NFTs across sports fan bases, with its first project, Rario, focusing on promoting cricket. The launch of Polygon Studios further expanded the platform’s footprint by bringing blockchain technology to gaming.
DraftKings Marketplace is the latest partner integrated into the platform, already featuring Atari, Decentraland, OpenSea, The Sandbox, ZED RUN and Neon District, among others.