Popular sports betting company DraftKing has taken a step further into the world of cryptocurrencies and blockchain by becoming a full validator for Polygon Network, an Ethereum-based scaling platform.
The firm, whose market capitalization currently stands at $20 billion, announced that scalability remains a challenge in the blockchain space, noting that they aim to set the ground running for the DraftKings marketplace — an ecosystem that focuses specifically on NFTs.
To become a validator, the betting giant will launch a node on the Polygon Network to enhance the verification of transitions using a proof-of-stake (PoS) consensus protocol.
Paul Liberman, co-founder and president of global product and technology at DraftKings, in a statement, said, “Scalability and sustainability remain among the critical challenges of blockchain technology, so 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.”
Through this collaboration, DraftKings will have the option of contributing to Polygon’s governance.
DraftKings, in August this year, collaborated with the Tom Brady-backed NFT marketplace Autograph to roll out the Preseason Access Collection, a marketplace for NFT collectibles from famous athletes. Some of these athletes include Jamaican sprinter Usain Bolt and U.S. gymnast Simone Biles.
The marketplace debut came as trades in blockchain-registered images soared, making NFTs more attractive to retail traders.
