DraftKings Marketplace is Launching Primetime NFT Series

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DraftKings Marketplace is launching its Primetime NFT Series that will initially recognize key moments during March Madness. [Image: Shutterstock.com]

An in-house debut

DraftKings Marketplace is launching its Primetime NFT (non-fungible token) Series to recognize the year’s biggest sporting events. The Boston-based company made the announcement on Tuesday, with the collection aiming to provide greater rewards and better engagement with DraftKings Marketplace users.

just in time for the beginning of March Madness

The initial drop in the NFT Series will be a 2022 College Hoops Collection. It will launch just in time for the beginning of March Madness, the NCAA basketball tournament that runs until April 4. It will also mark the first full in-house NFT offering from DraftKings.

DraftKings will provide special perks for collectors who get each of the eight editions as part of the 2022 College Hoops Collection. They will receive a reward of a ninth commemorative NFT, as well as priority access to the subsequent Primetime NFT Series drop.

A variety of benefits

Collectors can purchase DK Dollars across each drop. These are site credits that customers can use throughout the DraftKings ecosystem, including the daily fantasy sports and sports betting offerings.

Eligible holders can use their NFT rewards to place wagers and enter pools, fantasy contests, or brackets. Added to this, exclusive editions of each of the eight collectibles in the new series will go to auction through the DraftKings Marketplace.

new Primetime NFT Series will further drive engagement”

Commenting on the launch, DraftKings co-founder and North America president Matt Kalish said: “The new Primetime NFT Series will further drive engagement while also providing rewards that bridge to our gaming offerings for the first time.”

Embracing the world of NFTs

NFTs have become very popular in the sporting world over the past year or so. They often include digital collectibles of key moments or players in a given sport.

DraftKings has now fully embraced the space. It launched the DraftKings Marketplace in August, which supports curated NFT drops and secondary market transactions. It is also working on the development of an NFT-based game with the NFL Players Association, as well as being among the initial corporate validators of the Polygon blockchain.

DraftKings has picked a significant time of year for the launch of its first in-house NFT. March Madness is one of the biggest sporting events in the US calendar. The single-elimination tournament sees 68 teams battling it out to be crowned the ultimate NCAA champion. The American Gaming Association (AGA) estimates that 45 million Americans will bet on March Madness this year.