Markets

DraftKings, Polygon Enter Into Blockchain Agreement

9:53AM ET 10/18/2021 MT Newswires
DraftKings (DKNG) and Ethereum-based platform Polygon said Monday they entered a partnership to allow mainstream accessibility to back custom non-fungible token, or NFT, drops along with secondary-market transactions.

The companies said that the deal provides DraftKings with a scalable blockchain solution that enables added throughput and expanded capabilities.

"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," said Paul Liberman, co-founder and president of global product and technology at DraftKings.

The companies added that DraftKings Marketplace is available to millions of customers across the US and Canada and that these customers will eventually have the ability to transfer their purchased NFTs to their own wallets on Ethereum Mainnet.

No financial details about the partnership were unveiled.

Price: 48.78, Change: +0.70, Percent Change: +1.46