NFTs

DraftKings expands on NFT offerings through NFLPA partnership

DraftKings expands on its NFT offerings through NFLPA partnership

Sports betting giant DraftKings and the NFLPA have joined forces to launch a series of ‘gamified’ non-fungible token collections and playable games featuring current NFL players.

The partnership grants DraftKings licensing rights for the use of the name, image and likeness of active NFL players on its native DraftKings Marketplace during the 2022-2023 NFL season.

DraftKings revealed that the initial features for the gamified NFTs are anticipated to include the ability for customers to use the collectables within games against opponents alongside separate functionality for the trading, buying and selling of players.

It is also expected there will be a variety of NFT “editions and tiers” that cover utility and digital scarcity in the form of a rarity score – much like the football-based NFT game Sorare which allows users to buy, sell and play with their favourite football players from across the major leagues.

The DraftKings marketplace will be powered by Polygon, the Layer-2 Ethereum scaling solution. DraftKings previously signed with Polygon to provide a “scalable, eco-friendly blockchain solution” that provides users with lower transaction fees, faster transactions and higher throughput.

The integration of ‘NFL player NFTs’ will also coincide with DraftKings’ existing commitments to the league, which include the platform becoming an ‘Official Daily Fantasy and Sports Betting Partner’ of the NFL.

“The future of fandom is unfolding in front of us, and few organisations beyond DraftKings are as equipped to capitalize on the increasing intersection between sports and NFTs that will be cornerstones of engagement and entertainment within Web3,” said Beth Beiriger, SVP of product operations for DraftKings Marketplace.

The NFL has recently become more involved in cryptocurrencies thanks to high-profile partnerships with Socios and NFT platform Dapper Labs alongside star players Aaron Rodgers and Odell Beckham Jr choosing to receive their salaries in Bitcoin via a deal with Cash App.

Sean Dickens

An avid advocate of DeFi, Sean has been in the industry since 2017, studying the latest trends writing about cryptocurrencies. He studied Journalism and Media at Birkbeck University and now writes for Coin Rivet while being an active member of various communities in the crypto space - particularly NFTs.