DraftKings, a sports betting and fantasy operator, is expanding its presence in the NFT space. Polygon, an Ethereum-based scaling platform, has announced a strategic partnership with DraftKings. The collaboration will benefit the DraftKings NFT marketplace. The marketplace has been operational since August and has proven to be profitable for the company. Polygon will now use its ground-breaking web 3.0 technology to expand the marketplace’s capabilities.
This announcement is a huge win for DraftKings. The company already controls a sizable portion of the daily fantasy market. DraftKings’ reach will be expanded further as a result of their collaboration with Polygon. Users on DraftKings can compete for daily cash prizes. Users can select from up to ten different sports, including the NFL, basketball, and Premier League football.
The platform already includes a number of NFTs. The “Signature Series” includes NFTs from celebrities like Simone Biles, Tiger Woods, Tom Brady, and Naomi Osaka. The collection has unquestionably proven to be a huge success in the market. DraftKings and Polygon will collaborate to incorporate the necessary technology.
“Although DraftKings Marketplace is still in its infancy, we are bullish on the possibilities that blockchain, NFTs, cryptocurrency, and more will present as we prepare for Web 3.0,” said Paul Liberman, Co-founder of DraftKings, in a statement released on Monday. DraftKings and Polygon are on the cutting edge of this technology.
This collaboration benefits both DraftKings and Polygon. DraftKings will also become a validator for the Polygon blockchain as part of the agreement. Significantly, this implies that DraftKings may be able to create blocks. It will also provide Polygon with much-needed security and infrastructure.