{"id":196496,"date":"2021-12-27T12:09:50","date_gmt":"2021-12-27T20:09:50","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=196496"},"modified":"2021-12-27T12:50:40","modified_gmt":"2021-12-27T20:50:40","slug":"polygon-getting-lift-from-draftkings-nft-relationship","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/polygon-getting-lift-from-draftkings-nft-relationship\/","title":{"rendered":"DraftKings NFT Plans Spur Interest in Cryptocurrency Polygon"},"content":{"rendered":"

DraftKings’ (NASDAQ:DKNG) recently announced non-fungible token (NFT) plans are stoking increasing interest in Polygon, a previously unheralded cryptocurrency.<\/p>\n

\"Polygon\"
DraftKings office in Boston. The company’s relationship with Polygon is helping the cryptocurrency rally. (Image: MLive.com<\/em>)<\/figcaption><\/figure>\n
\n

In July, the sportsbook operator announced the creation of DraftKings Marketplace, which features \u201ccurated NFT drops and supports secondary-market transactions.\u201d At that time, DraftKings said its NFT platform is partnering with Autograph, an NFT collecting platform cofounded by Tampa Bay Buccaneers quarterback and seven-time Super Bowl champion Tom Brady.<\/p>\n<\/div>\n

Transactions on the platform are conducted in Polygon, which is based on the ethereum blockchain. When DraftKings announced a partnership with Polygon<\/a> in October, the digital asset ranked 21st<\/sup> by market value on the list of cryptocurrencies. Today, it’s up to the 14th<\/sup> spot, with a market capitalization of $19.91 billion, indicating the relationship with DraftKings is perhaps generating new interest in the digital token.<\/p>\n

Data Confirm Polygon Interest<\/h2>\n

Some data points confirm traders are embracing Polygon.<\/p>\n

Seeking Alpha<\/i> readers got excited about the expansion of the NFT market last week. Bolstered by its involvement in a deal with the NFL players’ union, Polygon became one of the most-added cryptocurrencies, according to an analysis of portfolio additions and deletions,\u201d<\/strong> reports the financial news and investing blog.<\/p><\/blockquote>\n

Polygon’s add-to-remove ratio among Seeking Alpha <\/i>readers is five-to-one, meaning far more investors on that platform are embracing the digital asset than are parting ways with it.<\/p>\n

DraftKings’ alliance with Autograph could be part of the reason Polygon is generating buzz. Not just the collectibles company backed by Brady<\/a>, it has content arrangements with movie studio Lionsgate, as well as NFT deals with Tiger Woods, Wayne Gretzky, Derek Jeter, Naomi Osaka, and Tony Hawk.<\/p>\n

Further bolstering its NFT efforts, and potentially Polygon in the process, earlier this month DraftKings announced an accord<\/a> with the NFL Players Association (NFLPA) earlier this month to distribute NFT collections of current players.<\/p>\n

Proof Is in Polygon Pudding<\/h2>\n

It’s clear the DraftKings relationship is having some impact on Polygon. On Dec. 13 \u2013 the day the NFLPA deal was announced \u2013 the cryptocurrency traded around $1.76. At this writing, it goes for $2.77.<\/p>\n

When the partnership with the gaming company was made public on Oct. 18, Polygon traded around $1.52. The digital token has tripled in value since late July.<\/strong><\/p>\n

\u201cPolygon solves pain points associated with blockchains, like high gas fees and slow speeds, without sacrificing on security. This multi-chain system is akin to other ones, such as Polkadot, Cosmos, Avalanche etc.,\u201d according to the token’s developers.<\/p>\n

The asset looks to beat those rivals by fully leveraging the ethereum\u2019s network effects, while being more powerful and secure.<\/p>\n","protected":false},"excerpt":{"rendered":"

DraftKings’ (NASDAQ:DKNG) recently announced non-fungible token (NFT) plans are stoking increasing interest in Polygon, a previously unheralded cryptocurrency. In July, the sportsbook operator announced the creation of DraftKings Marketplace, which features \u201ccurated NFT drops and supports secondary-market transactions.\u201d At that time, DraftKings said its NFT platform is partnering with Autograph, an NFT collecting platform cofounded […]<\/p>\n","protected":false},"author":46,"featured_media":196499,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[24066,1074],"tags":[],"acf":[],"yoast_head":"\nPolygon Getting Lift From DraftKings NFT Relationship<\/title>\n<meta name=\"description\" content=\"Polygon is benefiting from its ties to DraftKings NFT marketplace.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/polygon-getting-lift-from-draftkings-nft-relationship\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Polygon Getting Lift From DraftKings NFT Relationship\" \/>\n<meta property=\"og:description\" content=\"Polygon is benefiting from its ties to DraftKings NFT marketplace.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/polygon-getting-lift-from-draftkings-nft-relationship\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-27T20:09:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-27T20:50:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/DKNG2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/polygon-getting-lift-from-draftkings-nft-relationship\/\",\"url\":\"https:\/\/www.casino.org\/news\/polygon-getting-lift-from-draftkings-nft-relationship\/\",\"name\":\"Polygon Getting Lift From DraftKings NFT Relationship\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/polygon-getting-lift-from-draftkings-nft-relationship\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/polygon-getting-lift-from-draftkings-nft-relationship\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/DKNG2.jpg\",\"datePublished\":\"2021-12-27T20:09:50+00:00\",\"dateModified\":\"2021-12-27T20:50:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Polygon is benefiting from its ties to DraftKings NFT marketplace.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/polygon-getting-lift-from-draftkings-nft-relationship\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/polygon-getting-lift-from-draftkings-nft-relationship\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/polygon-getting-lift-from-draftkings-nft-relationship\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/DKNG2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/12\/DKNG2.jpg\",\"width\":1280,\"height\":854,\"caption\":\"DraftKings office in Boston. 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