DraftKings has launched its dedicated NFT marketplace, expanding the company's scope and pushing it towards further technological innovation in sports.
The marketplace was launched on Tuesday morning and will feature a first NFT drop this week.
DraftKings teamed up with Tampa Bay Buccaneers quarterback Tom Brady who minted his own NFT company Autograph back in April.
Brady's company and DraftKings are now teaming up for the upcoming NFT collectibles drop that will be distributed both through DraftKings Maretplace and Autograph.
The first drop is expected to happen today and will feature Brady. An additional series of Brady tokens should be arriving on August 13.
The price of each NFT token will be worth between $12 and $100 each, but there will be some NFTs autographed by the player that will sell for $250 and $1,500 apiece.
Moving forward, there will be more famous athletes brought in the NFT marketplace, including Wayne Gretzky and Tiger Woods, then Naomi Osaka, Tony Hawk, Derek Jeter and so on.
With each NFT drop, consumers who buy a digital collectible will be granted early access to the next NFTs. DraftKings has entered the market as NFTs' transactional value has reached $2.5bn in the first half of 2021.
Successful arrivals in the space have been the DappRadar licensed by the NBA, NBA Top Shot, which is one of the most successful companies in the sports NFT business. It captures and digitalizes highlights from basketball games, and sell them back to fans.
DraftKings has also chosen to stick to a Polygon layer-2 solution to ensure that its business will remain as eco-friendly as possible by minimizing any excess energy that is used to cover on-chain fees and network congestion.