{"id":205391,"date":"2022-03-15T09:47:23","date_gmt":"2022-03-15T16:47:23","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=205391"},"modified":"2022-03-15T17:53:02","modified_gmt":"2022-03-16T00:53:02","slug":"draftkings-debuts-new-non-fungible-token-series-for-ncaa-tournament","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/draftkings-debuts-new-non-fungible-token-series-for-ncaa-tournament\/","title":{"rendered":"DraftKings Launches New NFT Series in Advance of NCAA Tournament"},"content":{"rendered":"

DraftKings is capitalizing on the NCAA Tournament to introduce a new line of non-fungible tokens (NFTs).<\/p>\n

\"DraftKings
An ad for DraftKings Marketplace. The company is rolling out a new non-fungible token (NFT) series for the NCAA Tournament. (Image: DraftKings)<\/figcaption><\/figure>\n

The Boston-based gaming company said today it rolled out the Primetime NFT Series — its first all-in-house NFT collection. Primetime NFTs will be sold on DraftKings Marketplace<\/a>, which the sportsbook operator launched last year.<\/p>\n

Collectors holding all eight editions of the 2022 College Hoops Collection following the championship game will be airdropped a ninth commemorative NFT as a reward for collecting the full set, and this airdrop will grant collectors priority access to the next Primetime NFT Series drop,\u201d according to a statement issued by DraftKings.<\/p><\/blockquote>\n

The NFT is an emerging digital asset class<\/a> that\u2019s generating considerable buzz, and one that many interested investors don\u2019t know how to participate in. DraftKings Marketplace also features \u201ccurated NFT drops and supports secondary-market transactions.\u201d<\/p>\n

March Madness NFTs Have Gaming Angle<\/h2>\n

DraftKings is leveraging the new NFT launch as an avenue for attracting bettors to its daily fantasy sports (DFS) and online sportsbook offerings.<\/p>\n

With each drop in the new NFT collection, buyers receive DK Dollars, which can be used as credits toward DFS, sports betting, and \u201cacross all parts of DraftKings\u2019 digital sports entertainment and gaming ecosystem.\u201d<\/strong><\/p>\n

\u201cEligible holders can use their 2022 College Hoops Collection NFT rewards to place bets and enter pools, brackets, or fantasy contests,\u201d according to the company. \u201cThere will also be exclusive one-of-one (1\/1) editions of all eight collectibles, which will be auctioned off concurrently using DraftKings Marketplace\u2019s recently launched auction platform.\u201d<\/p>\n

Some analysts view NFTs as a small though a viable contributor to the broader DraftKings investment thesis. Sports memorabilia is a $10 billion-plus industry, and as more of it goes digital, NFTs could soar in popularity.<\/p>\n

Adding to its NFT thesis, DraftKings said last December<\/a> it reached a deal with the NFL Players Association (NFLPA) to roll out \u201cgamified\u201d NFT collections.<\/p>\n

Good Tournament Timing for DraftKings NFT Launch<\/h2>\n

The impact on its top and bottom lines remains to be seen. But DraftKings’ decision to roll out an NFT series related to the NCAA Tournament could prove fortuitous.<\/p>\n

\n

With more states than ever<\/a> permitting regulated sports wagering, March Madness 2022 is forecast to generate record betting handle. Roughly 45 million American adults plan to wager $3.1 billion on March Madness this year, according to the American Gaming Association (AGA).<\/p>\n<\/div>\n

Additionally, DraftKings 2022 College Hoops Collection will serve as a springboard for similar NFT launches around upcoming major sporting events. DraftKings didn’t mention specific competitions that could be leveraged for NFT drops.<\/p>\n","protected":false},"excerpt":{"rendered":"

DraftKings is capitalizing on the NCAA Tournament to introduce a new line of non-fungible tokens (NFTs). The Boston-based gaming company said today it rolled out the Primetime NFT Series — its first all-in-house NFT collection. Primetime NFTs will be sold on DraftKings Marketplace, which the sportsbook operator launched last year. Collectors holding all eight editions […]<\/p>\n","protected":false},"author":46,"featured_media":205392,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1074,16693],"tags":[],"acf":[],"yoast_head":"\nDraftKings Debuts New Non-Fungible Token Series For NCAA Tournament<\/title>\n<meta name=\"description\" content=\"DraftKings Marketplace offering new NFT drop tied to NCAA Tournament.\" \/>\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\/draftkings-debuts-new-non-fungible-token-series-for-ncaa-tournament\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DraftKings Debuts New Non-Fungible Token Series For NCAA Tournament\" \/>\n<meta property=\"og:description\" content=\"DraftKings Marketplace offering new NFT drop tied to NCAA Tournament.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/draftkings-debuts-new-non-fungible-token-series-for-ncaa-tournament\/\" \/>\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=\"2022-03-15T16:47:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-16T00:53:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/NFT.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\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\/draftkings-debuts-new-non-fungible-token-series-for-ncaa-tournament\/\",\"url\":\"https:\/\/www.casino.org\/news\/draftkings-debuts-new-non-fungible-token-series-for-ncaa-tournament\/\",\"name\":\"DraftKings Debuts New Non-Fungible Token Series For NCAA Tournament\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-debuts-new-non-fungible-token-series-for-ncaa-tournament\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-debuts-new-non-fungible-token-series-for-ncaa-tournament\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/NFT.jpg\",\"datePublished\":\"2022-03-15T16:47:23+00:00\",\"dateModified\":\"2022-03-16T00:53:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"DraftKings Marketplace offering new NFT drop tied to NCAA Tournament.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-debuts-new-non-fungible-token-series-for-ncaa-tournament\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/draftkings-debuts-new-non-fungible-token-series-for-ncaa-tournament\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-debuts-new-non-fungible-token-series-for-ncaa-tournament\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/NFT.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/NFT.jpg\",\"width\":1200,\"height\":800,\"caption\":\"An ad for DraftKings Marketplace. 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