DraftKings, Polygon Team Up on Blockchain Accord

DraftKings (NASDAQ:DKNG) is forging deeper into the cryptocurrency space, announcing today that it’s partnering with Polygon to funding debuts on non-fungible tokens (NFTs) on DraftKings Marketplace.

DraftKings Marketplace latterly launched and features “curated NFT drops and supports secondary-market transactions.” The weapons platform partners with Autograph, an NFT collecting weapons platform cofounded by Tampa Bay Buccaneers quarterback and seven-time Super Bowl title-holder Uncle Tom Brady. That human relationship is pertinent, because Autograph has agreements with pic studio Lionsgate, as substantially as NFT deals with Tiger Woods, Duke Wayne Gretzky, Derek Jeter, Noemi Osaka, and Tony Hawk.

With Polygon, which is based on the Ethereum blockchain, DraftKings adds throughput and expands digital item capabilities.

Also notably, DraftKings now has the alternative to potentially give to Polygon’s governance, and help unafraid the electronic network as a validator client with its have stake pool,” according to a statement.

The annunciation comes as Bitcoin, the largest digital currency past securities industry capitalization, is higher by eight percent o'er the past week. Polygon, keep down 21 by market crest among cryptocurrencies, is upwards almost 18 percent over the same period.

DraftKings Has Eyes for Crypto

As a youth society that counts plenitude of young, crypto-savvy investors among its clients, DraftKings’ encompass of digital assets and NFTs isn’t surprising.

Earlier this year, CEO Jason Robins said he’d similar his fellowship to accept crypto as a make of payment for online casinos and sports betting. But say regulators currently don’t allow that. He’s broadly speaking bullish on crypto, noting the asset category will “likely transmute some full industries and portions of others.”

While it may live a patch before regulators ratify sour on gaming companies accepting digital currency as payment, the Polygon grant hastens DraftKings’ raise inwards ii rising categories: crypto and NFTs. With the aid of Polygon, DraftKings customers inwards the US and Canada will eventually be able-bodied to purchase NFTs on DraftKings Marketplace and move those digital artworks to digital wallets on Ethereum Mainnet.

For its part, Polygon is expanding its exposure to gaming, though it’s inwards forms beyond traditional online sports betting.

“Teaming upward with DraftKings Marketplace marks the in style(p) major integration for Polygon alongside existing partners that include Atari, Decentraland, OpenSea, The Sandbox, ZED RUN, Neon District and others,” according to the statement.

DraftKings’ Evolution

While DraftKings Marketplace and the understanding with Polygon are new endeavors for the gaming company, those are signs the operator views itself as a great deal more than a gaming enterprise.

There’s verbalize in the investiture community of interests that in the future, DraftKings won’t look much the likes of it does today, as it expands beyond introductory gaming operations.

Some investors already assure that potential, with some viewing DraftKings as a accompany with rising fintech credibility. That status is enhanced past the firm’s growing crypto and NFT footprints.