Polygon Agrees Blockchain Collaboration With DraftKings Marketplace

Posted on October 19, 2021

DraftKings Marketplace, the Boston-based companies new Non-Fungible Token-based ecosystem, has agreed a partnership with the Ethereum-based scaling service Polygon in what is being seen as the company preparing for significant development of its Marketplace product.

Currently, DraftKings own Marketplace allows for customers to purchase a number of non-fungible tokens based on sporting superstars that have included the likes of Wayne Gretzky, Tom Brady, Derek Jeter, Simone Biles and Rob Gronkowski.

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Image Credits | Polygon

It was the latest addition and expansion to the DraftKings network which already features fantasy sports, casino betting, sports betting and esports betting.

Purchases are made using standard US Dollars, rather than cryptocurrency and although the marketplace has enjoyed a strong start, with the NFT’s available selling out rapidly once released, this latest partnership is seen as DraftKings making a real attempt to improve and increase the size and scale of its Marketplace operations.

Contribute To The Polygon Network

By agreeing to the collaboration, not only will there be a clear opportunity to develop and diversify its Marketplace offering, but DraftKings will be able to contribute to the growing Polygon network.

Polygon has become a go-to option for companies with NFT marketplaces that need a clear infrastructure in place to capitalise on its offering and the opportunities it presents.

A key part of that is the layer-2 technology at the heart of Polygon’s network, which makes handling a large number of transactions at one time viable.

In addition, the move will see DraftKings become one of the primary driving forces in the Polygon network. They will not only have power to govern the network, but also DraftKings will be able to serve as a network validator, thus giving them the opportunity to produce new blocks on the chain.

The upshot of this for DraftKings and its customers is that through its partnership with Polygon, the company will be able to develop the marketplace still further, allowing it to grow fluidly over time, scaling its offers and improving the tools that it can offer uses to access the site.

Prepare For Web 3.0

The move is clearly DraftKings seeking to capitalise on the roaring success of DraftKings Marketplace since its release and the company can only be delighted with how its initial sale of NFT’s has progressed over the last few months.

As Paul Liberman, the Co-founder and President of Global Product and Technology at DraftKings remarked:

“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.”

“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.”

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Image Credits | DraftKings

Long List Of Partners

Polygon’s network of partners already includes OpenSea, Decentraland, Atari and Neon District and now adds DraftKings to the list.

Sandeep Nailwal, the Co-founder of Polygon, explained how his company would help the Sports and Fantasy Sports company expand.

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

“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.”

Check out more about DraftKings and its services by reading our DraftKings review.

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Ian John

A lifelong poker fan, Ian is also well-versed in the world of sports betting, casino gaming, and has written extensively on the online gambling industry. Based in the UK, Ian brings fresh insight into all facets of gaming.

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