Sunday, December 10, 2023

DraftKings to Use Polygon for Custom NFT Drops and Secondary Market Transactions

According to recent news reports, the $20 billion-worth sports betting company, DraftKings, has forged a partnership with the layer-2 Ethereum solution, Polygon Network. DraftKings is planning to use the Polygon Network for supporting its custom non-fungible token (NFT) drops, and also its secondary market transactions.

This collaboration assumes importance as it is the first partnership between Polygon and DraftKings. The DraftKings Marketplace was launched in August, and since then it has hosted the NFT drops of Autograph’s Preseason Access NFT collection. This NFT drop had featured collectibles on Wayne Gretzky, Tom Brady, Simone Biles, Naomi Osaka, and Derek Jeter.

The DraftKings president of global product and technology, Paul Liberman, said in a statement recently that the biggest challenges in blockchain technology are the issues of sustainability and scalability. He added that the sports betting company is bullish on the blockchain, NFT, and crypto possibilities even though the DraftKings Marketplace is still in its early stages. He further said that the company is working with Polygon on many new innovations in the world of digital collectibles.

It has been found that through the partnership, DraftKings will also be contributing to the governance of Polygon. The Polygon governance system will be built in a way that allows the token holders to have a say in any changes in the network. As it becomes a validator for Polygon, it will be able to participate in the Polygon network’s PoS consensus protocol. According to a Polygon representative, the DraftKings governance is most likely to begin from November.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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