DraftKings Marketplace Chooses Polygon for Mainstream NFT Adoption

DraftKings Marketplace has partnered with Ethereum-based scaling platform Polygon to expand its blockchain capabilities and foster mainstream adoption of customized NFTs. At the same time, the unique addresses on the Polygon network have gone to a new record above 100 million.

DraftKings Gains Access to Polygon

Following the partnership, DraftKings now has access to a scalable and eco-friendly blockchain solution, the firm noted in a recent announcement.

Paul Liberman, co-founder and president of global products and technology at DraftKings, noted that scalability and sustainability seem to be the greatest challenge of most blockchain networks, which is why his firm has focused on Polygon.

“[However,] as we lay the groundwork today for the vision of DraftKings Marketplace tomorrow, the vast insights and proven products from Polygon around scalable solutions are invaluable,” Liberman said.

By tapping Polygon’s technology, DraftKings will improve the capabilities of its NFT marketplace, giving users an enhanced experience, including access to exclusive non-fungible token collections, Sandeep Nailwal, co-founder at Polygon said.

In August 2021, DraftKings Marketplace was established in partnership with Tom Brady’s NFT platform Autograph. It offers users the opportunity to buy and sell sports collectibles from some of the most popular athletes such as Usain Bolt and Simon Biles, the U.S. gymnast.

DraftKings to Become a Polygon Validator

Under the partnership, DraftKings noted that it has the option of becoming a validator on the Polygon network, which will allow DraftKings to create blocks and authenticate transactions using a proof-of-stake (PoS) consensus protocol.

Furthermore, should DraftKings accept to become a validator on Polygon, it would provide infrastructure security for the network and also reduce the monetary cost of transactions.

Polygon’s NFT Vision

The partnership happened to come at a time when Polygon was gradually shifting its focus to NFT development.

Earlier this year, Polygon announced the launch of Polygon Studios, an initiative that will focus exclusively on blockchain-backed game developments as well as non-fungible tokens.

The idea is to make the network enticing and attract more users into adopting its products and services.

MATIC Holders Surges

So far, the initiative seems to be in favor of Polygon as the number of addresses currently holding the network’s native token MATIC has continued to rise.

Per data from Polygon Scan, there are currently over 100 million unique addresses holding the cryptocurrency, with the highest number of new account sign-ups recorded on September 23, 2021, where 2.5 million addresses were added.

 PolygonscanPolygon Network Addresses. Source: Polygonscan

Publication date: 
10/20/2021 - 09:26
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