DraftKings Releases March Madness and Sports NFTs

DraftKings has launched its own NFT Marketplace, dubbed “DraftKings Marketplace”. According to fortune.com, they’ve decided to create their own NFT ecosystem and partnered with Autograph, an NFT platform co-founded by Tampa Bay Buccaneers quarterback Tom Brady.

DRAFTKINGS MARKETPLACE

DraftKings Inc. is an online sports, entertainment, and gaming company whose goal is to empower fans’ competitive spirits through services such as fantasy sports, sports betting, and digital media. The company was founded in 2012 by Jason Robins, Matt Kalish, and Paul Libermanis and is headquartered in Boston, Massachusetts. DraftKings provides sports services and gaming entertainment for operators in over 17 countries.

Now, the platform is offering NFTs. 

DraftKings Marketplace was constructed on the new Ethereum Layer 2 Blockchain by Scarcity Labs, a technology company recently acquired by DraftKings to help it assimilate into the NFT industry. Its Ethereum Layer 2 based technology allows for more refinement and features in an NFT marketplace when compared to Layer 1 based ones.

DraftKings was not minting the NFTs for its initial drop, but rather placing the Autograph NFTs on its blockchain. Now let’s discuss the NFT collections of DraftKings. 

SOME OF THE NFT COLLECTIONS

The Tom Brady Preseason Access Collection

The name “Preseason Access Collection” indicates that these NFTs will provide collectors with utility in the form of future drops, notably with the Limited-Edition series. The Tom Brady Preseason Access NFTs were released in two sets, one for the Premier collection and one for the Signature collection. 

The editions’ different quantities and prices are the most noticeable distinctions between the Premier and Signature series. The Signature series NFTs not only have significantly fewer, more expensive ones, but they also include a personally-written Tom Brady signature on each, something the Premier series does not have. 

The NFT collectibles released for Premier and Signature were Tom Brady Carbon, Tom Brady Platinum, Tom Brady Emerald, Tom Brady Sapphire, and Tom Brady Ruby. 

Tom Brady Ruby Premier Details

The Tom Brady Ruby Premier is an authentic Autograph Preseason Access Pass from Tom Brady. Holders will be provided VIP access to the inaugural Limited-Edition Tom Brady Drop and access to Autograph’s exclusive Discord community.

The Premier series debuted on Wednesday, August 11, and was instantly sold out. One day after the Premier level editions were sold, the cheapest available edition on the secondary market was a Tom Brady Carbon Premier edition, offered for $195. The most expensive one was a Tom Brady Ruby Premier, advertised for $3,199. They might sell for even higher prices on the secondary market.

Tom Brady Ruby Signature Details

The Tom Brady Ruby Signature series was released on Friday, August 13, and sold out after a couple of hours. Only a few hours after the drop, the most expensive edition, a Ruby Signed edition, was listed by its collector for $127,001.

Primetime NFT Series

The “Primetime NFT Series” is the company’s first in-house digital collectibles promotion, showcasing NFTs of college basketball stars and moments. The series is titled “2022 College Hoops Collection”, and die-hard collectors will be rewarded for their NFT support. Collectors who get all eight editions of the DraftKings NFTs will receive a ninth NFT via airdrop following the NCAA championship game.

These drops grant special access to site credits known as “DK Dollars” that can be utilized for gameplay across the DraftKings gaming ecosystem. As described in their press release, “As the buzzer-beaters and Cinderella stories unfold this season, eligible holders can utilize their 2022 College Hoops Collection NFT prizes to make bets and join pools, brackets, or fantasy events.” An exclusive one-of-one edition of all eight collectibles is also featured in this new 2022 College Hoops Collection. 

March Madness 

There are 67 basketball games for the three weekends during the March Madness event, and anyone can win. The sports betting portion of DraftKings planned its first significant NFT collection drop on March 16, and that collection was based on the NCAA March Madness tournament, which the company described as “a fresh opportunity to gamify the fan experience.”

The first of the NFTs is named, “Going Dancin’.” It costs $10 and is available in a limited number (6,464 collectibles) after the “Bubble Team” was released. Each NFT has an image of a cartoon basketball, whose appearance varies according to the type of NFT released at different periods throughout the tournament.

What to Watch Out For

The Boston-based sports betting firm DraftKings launched its NFT marketplace and released two NFT collections. The first NFT collection is ‘The Tom Brady Preseason Access Collection, which was released in partnership with Autograph, and the second collection Primetime NFT series is ongoing; the series is titled “2022 College Hoops Collection”, which is based on the NCAA March Madness tournament. 

A total of eight collectibles will be released during March Madness from March 16 to April 1, and these NFTs vary in appearance. Fans will more than likely be very enthusiastic and pleased to support their favorite teams and players through the purchase of these NFT.  

These drops follow in the wake of the NBA Top Shot NFT drops just a few months earlier and Michael Jordan’s NFT drops just a few weeks ago. It would seem that basketball and sports companies are quickly seeing the potential of blockchain technologies to create value for both themselves and their fanbases. There will likely be many more launches and marketplaces like this in the future.

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