DraftKings, Polygon sign blockchain technology agreement

The partnership will see the US-based sportsbook become a validator on the Polygon Network.

DraftKings has today announced a partnership with the Ethereum-based scaling platform Polygon. The deal aims to improve DraftKings Marketplace, the digital collectibles ecosystem designed to provide custom NFT drops and secondary-market transactions.

Per the terms of the agreement, DraftKings Marketplace – which has already held NFT drops for elite athletes such as Naomi Osaka, Simone Biles, Tom Brady, Derek Jeter, and Wayne Gretzky – will become a validator for Polygon.

“Scalability and sustainability remain among the critical challenges of blockchain technology, so as we lay the groundwork today for the vision of DraftKings Marketplace tomorrow, the vast insights and proven products from Polygon around scalable solutions are invaluable,” commented Paul Liberman, co-founder and president of global product and technology at DraftKings.

“Although DraftKings Marketplace is still in its nascency, we are bullish on the possibilities that blockchain, NFTs, cryptocurrency and more will present as we prepare for Web 3.0 alongside Polygon and the new innovations ahead for digital collectibles.”

DraftKings first launched its NFT marketplace in August. Through becoming a validator, DraftKings will be able to take part in the proof-of-stake consensus protocol for the Polygon blockchain main network to produce blocks.

“Leveraging Polygon’s technology, DraftKings will be able to expand the variety and capabilities of DraftKings Marketplace for an enhanced user experience with even more exclusive content and drops,” said Sandeep Nailwal, co-founder at Polygon.

“DraftKings Marketplace already provides fans and collectors with a seamless way to buy and resell authentic digital collectibles within a highly accessible ecosystem, so we look forward to being part of its continued growth.”

Polygon first launched earlier this year in an effort to boost awareness and adoption of NFTs. The platform is also involved in blockchain gaming and supports 100,000 players.

While this deal sees DraftKings expand its presence in the NFT and cryptocurrency space, the company is still growing its sports betting arm throughout the United States. Currently, the operator is regulated to host sports betting in Arizona, Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia, West Virginia, and Wyoming.

Henry Moore

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