DraftKings is a $20Bn American daily fantasy sports contest and betting platform listed on NASDAQ. The company allows users to enter daily and weekly fantasy sports-related contests and win money. DraftKings has announced they will be building a platform on the Polygon chain.
What Polygon? Polygon (MATIC) is an Ethereum token that powers the Polygon Network, a scaling solution for Ethereum. Polygon aims to provide faster and cheaper transactions on Ethereum using the Layer 2 protocol. The token price has grown by over 112% since last year.
Through this deal, DraftKings becomes a validator for Polygon, meaning it will be able to participate in the Polygon network to produce blocks, join Polygon’s governance and even contribute to network security as a leader in Polygon’s future.
“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,” said Paul Liberman, co-founder and president of global product and technology at DraftKings.
DraftKings says they are bullish on possibilities that blockchain, NFTs and cryptocurrencies will lead to innovations in digital collectables. Polygon has launched its studio earlier this summer, where its infrastructure can support over 100,000 blockchain gamers. With this partnership, DraftKings will be able to expand the variety and capabilities of its Marketplace for an enhanced user experience with even more exclusive content and drops.