The people who bet on games are usually the same people who watch the games, buy the merchandise and collect the memorabilia, so companies that attract a lot of users through one of those avenues are looking for ways to monetize the audience elsewhere. Fanatics, for example, the dominant seller of licensed sports apparel, is Reducing Risk With A Credit Spread Options Strategy starting to branch into memorabilia and NFTs, and just hired a new executive to explore other verticals. DraftKings is launching its first non-gaming vertical, an NFT marketplace where its users will be able to buy, sell and trade digital collectibles with the same funds they use to place bets or play blackjack. Buyers of these NFTs will also earn preferential access to a future Autograph drop, as well as access to a private Discord community and exclusive digital events for holders. The fact that DraftKings partnered with Polygon shows just how strategic the sports betting network is.
Create and offer a connected, “native”, wallet instead of forcing your buyers to sign up with other online wallets. Think about integrating your service with options like Formatic or Coinbase. You might need to create a list of the top-preferred wallets and add them to your platform.
The first one means that its participants aim to provide goods/services that match the requirements and expectations of a certain category of customers. Amazon and eBay are not the best examples so far as they offer everything to everyone, being horizontal suppliers. Each one has specific, original info stored in a contract and blockchain to guarantee safety and immutability.
Now that the way is paved, expect more streamers and gaming influences to make their own impact in this industry. The 1-of-1 NFT is a single work of art, combining all three of Tfue’s characters into a single piece. One lucky bidder is set to meet Tfue in Tampa, FL for a personal day of streaming, game play, vlogging and everything Turner’s life has to offer.
In addition, its 18.30 trailing-12-month EV/Sales ratio is 1,074.5% higher than the 1.56 industry average. Also, DKNG’s 12.04 forward Price/Book multiple compares with the 3.49 industry average. Autograph has had success partnering with other professional athletes for NFT collectibles including the likes of NFL great Tom Brady, MLB star Derek Jeter and the NHL’s Wayne Gretzky. DraftKings shares are up 20% year-to-date but are trading off their all-time high of $74.
It’s just that the kind of betting which powers the company has historically been illegal. Since neither company has yet tested its new interpretation of the law in federal court, and since no state has raised the issue in more local jurisdictions, the legality of their business model remains an unsettled question. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. The marketplace was initially announced last month, offering customers secondary-market transactions and curated NFT drops, designed to boost the mainstream accessibility of the digital products. For DraftKings, which has raised some $720 million in funding since launch in 2012, the NFT expansion could offer an opportunity of funneling their existing audience into the new vertical. Few existing tech startups have made noteworthy expansions into the NFT world despite plenty of hype and investor interest.
Autograph, the NFT platform launched by football player Tom Brady, will provide content for DraftKings Marketplace’s first Preseason Access Collection. The collection will also include access passes from notable athletes like Wayne Fretzky, Tony Hawk, Naomi Osaka, and Derek Jeter, according to a press release. But the live betting is where it’s at, both for DraftKings Sportsbook and the mobile sports betting industry as a whole.