Applications and Use Cases

Polygon Collaborates with DraftKings for NFT Support

October 20, 2021

Ethereum-based scaling platform Polygon announced this week it has formed a strategic partnership with sports gambling giant DraftKings. As part of this new agreement, Polygon will help support DraftKing’s online marketplace by incorporating its blockchain solution to support NFT transactions.

Non-fungible tokens have exploded in popularity over the last year, offering customers the ability to purchase ownership of a wide range of digital properties. This cutting edge technology has caught the attention of the sports entertainment industry, as well as the gambling sector, as a new frontier for owning and trading sports merchandise. The infrastructure that is necessary to enable these transactions requires secure networking and scalability that can only be delivered through blockchain.

“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,” commented 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.”

Forming this strategic partnership also means that DraftKings will now have the option to join Polygon’s network governance as a validator, which will further ensure proper validations across the network.

“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,” said 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.”

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Edited by Maurice Nagle



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