The series launches in connection with the upcoming NCAA Division 1 Men's Basketball Tournament, colloquially known as March Madness, and DraftKings is introducing a series of eight NFT collectibles to mark the occasion.
This initial series will be branded as the 2022 College Hoops Collection, with new ‘drops’ scheduled for key moments throughout the corresponding tournament.
Matt Kalish, Co-Founder and President, DraftKings North America, commented: “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.”
DraftKings will also ‘airdrop’ a ninth commemorative NFT to those collectors who acquire the full set, which will then grant them priority access to the next Primetime NFT Series release, expected later this year.
With each NFT acquisition, collectors will receive DK Dollars, which can be used in exchange for free gameplay across the DraftKings wagering portfolio. This is known as a utility NFT; one which offers additional benefits, alongside the asset itself.
DraftKings is expected to launch future editions of Primetime NFT Series, focused on other global sporting events.
With each series, a one-of-a-kind edition of each collectible will be auctioned off to fans on the newly-launched DraftKings Marketplace.
This marks the latest initiative from DraftKings related to the Web3 movement. In recent weeks, the operator has become one of the first corporate partners on the Polygon blockchain, helping to validate transactions in return for crypto-based rewards.
