NFTs News

After $44 million in sales on the NFT Marketplace, DraftKings has become a Polygon Validator.

DraftKings, the sports betting juggernaut, has established a partnership with digital asset startup Zero Hash to become a Polygon validator. The agreement will make DraftKings one of the largest Ethereum layer 2 governors, completing a scheme that has been in the works since last October.

After $44 million in sales on the NFT Marketplace, DraftKings has become a Polygon Validator. 2

“Participating in validation supports DraftKings’ broader strategy of building out a robust, sustainable, trustworthy and decentralized infrastructure to help futureproof aspects of our business in the Web 3 era,” Paul Liberman, the company’s global tech and product president, said in a statement.

DraftKings presently uses Polygon for its NFT marketplace, which it launched in August in partnership with Tom Brady’s Autograph platform, which is also built on Polygon.

Polygon has become a haven for sports collectible platforms looking for low-fee, fiat-compatible marketplaces. Aside from Autograph, the blockchain is home to the National Football League’s ticket collectible venture, as well as OneOf’s sports marketplace, which was established in collaboration with Sports Illustrated.

According to a spokesman, DraftKings’ marketplace has released 116 NFT collections totaling $44 million in sales revenue since its launch. In October, a rare Tiger Woods collectible sold for $70,000 on the platform.

For instance, Dapper Labs’ NBA Top Shot saw $47.5 million in sales volume in February 2022, a 20% decrease from the previous month and an 80% decrease from its all-time monthly volume peak of $224 million in February 2021.

DraftKings, which is worth about $20 billion on the open market, was downgraded today from “buy” to “hold” by investment firm Argus, which forecasts a decline in sports betting revenues for the following year.

Zero Hash, the business-to-business service tapped by DraftKings, helps integrate crypto and NFTs into its clients’ platforms. The company raised a $105 million Series D in January.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

KAZ

CoinCu News

Victor

Recent Posts

Dogecoin Price Gets $5 Prediction, Shiba Inu To Rally 1,100%, And ETFSwap (ETFS) To Jump 135x

Here are the latest predictions for Dogecoin, Shiba Inu, and ETFswap.

4 hours ago

AVAX Hits $1B in DeFi, Cardano Expected to Surge—BlockDAG Leads with $110M Presale & 100% Bonus!

Discover BlockDAG's 100% bonus and $110M presale surge that’s sparking interest among crypto enthusiasts. Also,…

4 hours ago

Crypto Institutional Investors Move To ETFSwap (ETFS) Amid $500 Million Liquidity Injection Expectations

Discover why crypto investors are moving to ETFSwap (ETFS) as $500 million liquidity injection is…

7 hours ago

Buyers Rush to Maximise Gains with BlockDAG’s 100% Bonus Offer; Plus, ETH Holds Strong as Solana Challenges Rivals

Learn about BlockDAG's $110M presale achievement and the whopping 100% bonus offer, alongside Ethereum's growth…

9 hours ago

Thai Police Corruption Case Involving Officers and Extortion

Thai police corruption exposed as officers extort millions in USDT from a Chinese man under…

12 hours ago

SafePal Telegram Wallet Launches with Swiss Bank Accounts and CeDeFi

SafePal Telegram Wallet allows 950 million users to create compliant crypto-friendly Swiss bank accounts, integrating…

13 hours ago

This website uses cookies.