2 years ago
Sports betting powerhouse DraftKings is partnering with integer plus startup Zero Hash to go a Polygon validator, the institution announced Monday.
The collaboration volition marque DraftKings 1 of the Ethereum furniture 2’s largest governors, pursuing done connected a program that has been successful the works since last October.
“Participating successful validation supports DraftKings’ broader strategy of gathering retired a robust, sustainable, trustworthy and decentralized infrastructure to assistance futureproof aspects of our concern successful the Web 3 era,” Paul Liberman, the company’s planetary tech and merchandise president, said successful a statement.
DraftKings presently uses Polygon for its NFT marketplace, which the institution debuted successful August successful a collaboration with Tom Brady’s Autograph platform, which is besides built connected Polygon.
Polygon has go somewhat of a hotbed for sports collectible platforms successful pursuit of low-fee, fiat-compatible marketplaces. In summation to Autograph, the blockchain is location to the National Football League’s ticket collectible experiment on with OneOf’s sports marketplace launched successful concern with Sports Illustrated.
Since its debut, DraftKings’ marketplace has released 116 NFT collections grossing $44 cardinal successful income revenue, according to a representative. The platform’s apical merchantability was a uncommon Tiger Woods collectible, bought for $70,000 successful October.
Dapper Labs’ NBA Top Shot, by comparison, saw $47.5 million successful income measurement successful February 2022, which was down 20% from its erstwhile period and 80% from its all-time monthly measurement precocious of $224 cardinal successful February 2021.
DraftKings, valued astatine astir $20 cardinal connected the nationalist market, was contiguous downgraded from “buy” to “hold” by concern steadfast Argus, forecasting a downturn successful sports betting revenues for the coming year.
Zero Hash, the business-to-business work tapped by DraftKings, helps integrate crypto and non-fungible tokens (NFTs) into its clients’ platforms. The institution raised a $105 cardinal Series D successful January.
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