The latest future-facing initiative from sports betting giant DraftKings is the launch of Primetime NFT Series, a collection of digital sports memorabilia to commemorate the world’s biggest sporting events.
NFTs (Non-Fungible Tokens) are unique cryptographic tokens that exist on a blockchain and cannot be replicated. NFTs can represent real-world items like artwork, real estate and – in this case – memorabilia and the ‘tokenising’ of these assets makes trading them not only viable but also potentially lucrative.
First in the DraftKings series is eight NFT collectables to celebrate the NCAA Division 1 Men’s Basketball Tournament, known as ‘March Madness’. Branded as the 2022 College Hoops Collection, further new NFTs will be released as the tournament progresses.
Matt Kalish, Co-Founder & President of DraftKings North America, says: “DraftKings is already deeply embedded within the biggest moments in sports, and the new Primetime NFT Series will further drive engagement while also providing rewards that bridge to our gaming offerings for the first time. Few moments on the sports calendar can match the drama and spectacle of March’s college basketball tournament, which is why we chose this month-long event to initiate this new digital collectibles program.”