DraftKings Indicators NFLPA Agreement to Enter Gamified NFT Space

DraftKings Signs NFLPA Agreement to Enter Gamified NFT Space

An thrilling collaboration

DraftKings has entered a licensing partnership with the NFL Players Association (NFLPA) that will permit the firm to get into the gamified NFT space. The daily fantasy sports (DFS) and sports betting operator announced the new deal on Tuesday.

DraftKings currently has its NFT marketplace up and operating, but it does not however have “gamified NFTs.” These are digital collectibles that feature the likeness, photos, and names of present players. They can be bought and sold, as nicely as utilised for diverse sorts of contests.

plans to launch the gamified NFTs in time for the commence of the 2022-2023 NFL season

DraftKings will launch a fantasy-style game using the NFLPA licensing rights. This will enable users to go head-to-head against 1 one more employing the NFTs. The operator plans to launch the gamified NFTs in time for the start of the 2022-2023 NFL season.

It is feasible that down the line, NFT-based competitions could connect to the existing fantasy platforms that DraftKings operates. Certain components of this agreement are exclusive, but it is not an exclusive deal in terms of utilizing the NFLPA IP for gamified NFT offerings.

Expanding the current DraftKings Marketplace

The DraftKings Marketplace launched in August and enables customers to trade collectibles that showcase the likes of Derek Jeter, Tiger Woods, and Tom Brady. To date, the marketplace has seen more than 120,000 transactions, representing about $20m of volume.

DraftKings decided to launch its marketplace after seeing the time and cash that a lot of its clients spent in the digital collectibles, crypto, and tech spaces during the COVID-19 pandemic. The organization believes that the expansion into gamified NFTs tends to make sense, and does not anticipate any regulatory issues when supplying them in specific states.

Speaking about the new collaboration, NFLPA head of organization affairs and basic counsel Sean Sansiveri stated: “I’m most keen on seeing how the NFLPA and DraftKings capitalize on this growing intersection amongst sports and NFT games.” Sansiveri believes a future expansion by DraftKings will cover the whole portfolio of its current 87 licensing partners.

Competitors in the space

Other parties have already started using sports-related NFTs as the base for distinct types of digital competitions.

France-based Sorare has combined NFT trading cards with fantasy competitions. In September, it managed to raise $680m by means of a Series B round, which gave it a $4.3bn valuation. It now has an workplace in the US and has begun talks with numerous sports leagues about possible collaborations in the future. The MLS Players Association signed a licensing deal with Sorare in July with support from the leader of NFLPA’s digital media organization, OneTeam.

the NFLPA and NFL have an equity stake in Dapper Labs

Turner Sports has an offering that permits individuals to obtain and sell avatars that are NFT-based and use them to take component in golf contests. Meanwhile, Dapper Labs has looked into the use of NFTs in a basketball arcade game, as properly as forming with the NFLPA and NFL for its upcoming All Day offering. Both the NFLPA and NFL have an equity stake in Dapper Labs.

In spite of forming many NFT-connected deals, the NFL banned teams from promoting sponsorships or advertisements relating to the likes of NFTs, crypto coins, and crypto exchanges.

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