May 20, 2022

DraftKings Marketplace Chooses Polygon for Mainstream NFT Adoption

2 min read

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

DraftKings Gains Access to Polygon

Following the collaboration, DraftKings now has access to a scalable and eco-friendly blockchain service, the company noted in a recent announcement.

Paul Liberman, co-founder and president of global items and technology at DraftKings, kept in mind that scalability and sustainability appear to be the greatest difficulty of the majority of blockchain networks, which is why his firm has focused on Polygon.

” [Nevertheless,] as we lay the groundwork today for the vision of DraftKings Marketplace tomorrow, the vast insights and tested products from Polygon around scalable services are vital,” Liberman said.

By tapping Polygon’s innovation, DraftKings will improve the abilities of its NFT marketplace, giving users an enhanced experience, consisting of access to unique non-fungible token collections, Sandeep Nailwal, co-founder at Polygon stated.

In August 2021, DraftKings Marketplace was established in collaboration with Tom Brady’s NFT platform Autograph. It offers users the chance to buy and offer sports antiques 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 kept in mind that it has the choice of becoming a validator on the Polygon network, which will enable DraftKings to develop blocks and confirm deals utilizing a proof-of-stake (PoS) agreement procedure.

Moreover, must DraftKings accept to become a validator on Polygon, it would offer facilities security for the network and likewise minimize the monetary expense of deals.

Polygon’s NFT Vision

The partnership occurred to come at a time when Polygon was slowly moving its focus to NFT advancement.

Previously this year, Polygon announced the launch of Polygon Studios, an initiative that will focus specifically on blockchain-backed game developments in addition to non-fungible tokens.

The concept is to make the network enticing and attract more users into embracing its product or services.

MATIC Holders Surges

Up until now, the effort seems to be in favor of Polygon as the variety of addresses currently holding the network’s native token MATIC has actually continued to increase.

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

Polygon Network Addresses. Source: Polygonscan
Polygon Network Addresses. Source: Polygonscan