DraftKings is now in the NFT business after launching a new marketplace that allows its users to buy and sell non-fungible tokens of sports’ biggest and brightest stars.
DraftKings Sportsbook, casino, and DFS players can now buy and eventually sell a variety of NFTs. Users can access the new market place through a variety of the popular sports gaming brand’s platforms, streamlining involvement in the budding industry.
The NFT business is still relatively new, and while the industry is booming, many sports fans are either unaware of or still learning about the technology. While the purchase and sale of NFTs can be a bit confusing, the DraftKings Marketplace figures to bring this emerging tech to the mainstream.
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DraftKings NFT Marketplace Launches
DraftKings has long been an aggressive company, showing a willingness to expand into different markets. The DFS giant began its sportsbook and casino operators in recent years, and this latest move into the NFT business shows a desire to grow its portfolio of offerings.
So, what what is an NFT? In short, it is an authentic digital property. Earlier this year, the NFT wave invaded sports with the arrival of NBA Top Shot, which gives a person the opportunity to own NBA digital collectibles.
With interest in NFTs rapidly growing, the DraftKings Marketplace is likely to bring added attention to the technology, while also breaking it down an easy-to-use forum.
At the onset, DraftKings will offer the PreSeason Access Collection, collectibles featuring a number of top athletes. The first NFT “drop” will feature “Signature” and “Premiere”editions. Signature series NFTs will include digital autographs.
The PreSeason Access Collection by Autograph will account for the first featured drops. Each athlete will have a variety of “Premier” and “Signature” NFTs available in the DraftKings Marketplace. The Signature series will have digital autographs from those athletes. The first drop features Tom Brady.
How the DraftKings NFT Marketplace Works
Current users of DraftKings Sportsbook, DraftKings Casino, and DFS can use their user names and passwords to access the marketplace.
- On predetermined dates and times, DraftKings will have drops of new NFTs. Users will have advanced notice of schedule drops on the marketplace homepage.
- Before a drop occurs, users will enter a virtual waiting room, grab a spot in the queue, and wait to receive a randomized spot for purchases of these limited edition items.
- Following purchase, users can access their NFTs in the portfolio section of the app.
- In the secondary market, users can buy other NFTs or place their owned items for sale.
While the marketplace is officially open for business, DraftKings is working on expanding its scope in the coming weeks and months. The company will soon add auctions, withdraw capabilities, public portfolios and more.
Just the Start
While the DraftKings Market for NFT purchases is up and running, the current iteration is just the start. Developers are currently working to expand auctions, withdraw capabilities, public portfolios, and more.