Sports betting company DraftKings Inc (NASDAQ:DKNG) is pushing further into the non-fungible tokens market with a new series planned around college basketball.
What Happened: DraftKings is launching its first in-house NFT drop to coincide with the 2022 Men’s Basketball Tournament.
Primetime NFT Series will feature “defining moments” from college basketball.
“DraftKings is already deeply embedded within the biggest moments in sports, and the new Primetime NFT Series will further drive engagement while also providing rewards that bridge to our gaming offerings for the first time,” DraftKings North America President Matt Kalish said.
The NFT series will include elements of collectability with holders of all eight editions being airdropped a ninth NFT for completing the set.
Owners of the ninth NFT will have priority access to the next Primetime NFT Series drop.
Each of the eight NFTs will also have a 1/1 rare version auctions off on the DraftKings Marketplace auction platform.
“Few times on the sports calendar can match the drama and spectacle of March’s college basketball tournament, which is why we chose this monthlong event to initiate this new digital collectibles program.”
NFT holders will also receive DK Dollars, which can be used as site credits for sports betting and daily fantasy sports.
Here are the NFTs in the Primetime NFT Series 2022 College Hoops Series:
- Going Dancin’ (common), Mar. 16 4 p.m. EST: $10, 6,464 units
- Bubble Team (elite), Mar. 16 5 p.m. EST: $75, 1,616 units
- Bracket Buster (common), Mar. 22 4 p.m. EST: $15, 4,444 units
- Sweet Celebration (elite), Mar. 22 5 p.m. EST: $100, 888 units
- Elite Energy (common), Mar. 29 4 p.m. EST: $25, 3,232 units
- Advance in the Dance (elite), Mar. 29 5 p.m. EST: $150, 44 units
- Cuttin’ Down Nets (common), Apr. 1, 4 p.m. EST: $50, 2,022 units
- Fairytale Ending (elite), Apr. 1, 5 p.m. EST: $200, 222 units
Related Link: DraftKings NFTs Launching With Autograph The Tom Brady Collection: What Investors Should Know
Why It’s Important: DraftKings highlights this as an “in-house offering,” which is different from past NFT collection launches with its partner Autograph, a company co-founded by NFL star Tom Brady.
DraftKings has grand ambitions to grow its NFT division, with a collection planned for NFL NFTs in partnership with the NFL Players Association.
DraftKings said fans can expect additional drops highlighting “major sports events globally.”
The sports betting company announced a partnership with the Polygon (CRYPTO: MATIC) blockchain that will power future NFTs.
DKNG Price Action: DraftKings shares are trading at $16.11 on Tuesday, up 5.67%, versus a 52-week range of $15.12 to $74.38.
