Connect with us


NFTs can be linked to betting products in Web3 by DraftKings

The “Primetime NFT Series” sports betting company has unveiled its first collection around March Madness basketball.



#draftkings #nft #nfts

An NFT collection developed in-house is being released by DraftKings as the company believes sports will be a major driver of blockchain adoption in the future.

For the NCAA’s college basketball tournament, which begins on Tuesday and runs through April 4, a Boston-based sports betting company is launching the NFT (non-fungible token) series.

We chose March’s college basketball tournament to launch our new digital collectibles program because of its “dramatic and spectacular” nature, co-founder Matt Kalish said.

An upcoming Primetime NFT Series will feature releases timed to coincide with major sporting events, the first of which is the 2022 College Hoops Collection. In an interview with Blockworks, DraftKings’ senior vice president of marketplace operations, Beth Beiriger, said that the company may introduce future NFT collections in conjunction with the NBA Playoffs and the Super Bowl.

DraftKings’ digital collectibles marketplace was unveiled in August, and now the company is bringing its NFT drops and secondary-market trading to the masses. NFT platform Autograph had previously announced that it would be the exclusive distributor of sports-related NFT content.

For the first time, says Beiriger, the NFT series connects digital collectibles to the company’s traditional line of products. In order to participate in DraftKings sportsbook and daily fantasy offerings, holders of the 2022 College Hoops Collection NFT will be eligible for site credit.

It will be given to those who have all eight NFTs in the collection, after the NCAA championship game, so they can get the next Primetime NFT Series drop early.

A key part of that early onboarding process is digital collectibles, according to Beiriger, who told Blockworks that “we see sports as a mainstream driver for blockchain adoption.”

Today, consumers have already been conditioned for the ongoing digitization of sports, thanks to cashless concessions in stadiums, online ticketing, and much more,” she said.

Beiriger said the company is also keeping a close eye on the blockchain gaming market as play-to-earn models take off.

An NFT-based fantasy game is expected to be released in time for NFL season 2017. The NFL Players Association has agreed to grant DraftKings the right to license its games to its active players.

Polygon partnership

As part of its partnership with infrastructure platform Zero Hash, DraftKings also announced that it would be putting its treasury’s digital assets into the Polygon (MATIC) blockchain. The partnership with Polygon, which the company had previously announced, has now been further solidified.

For Sandeep Nailwal, the co-founder of Polygon, DraftKings will become “an even more active participant in our Polygon ecosystem, playing an important role in securing and maintaining the integrity of our blockchain,” he said.

Creating a pool of Web3 talent

According to job postings, the company is actively recruiting crypto experts to join its ranks.

When it comes to its NFT marketplace, DraftKings is looking for a senior Web3 engineer to assist with “building and expanding our blockchain infrastructure to ensure the scalability and availability of the entire platform,” according to its website.

An anti-money laundering specialist is also needed by the company, which is looking for someone who can investigate cryptocurrency, blockchain, and the NFT marketplace.

Despite its acquisition of Scarcity Labs, a company that specializes in blockchain and cryptography, DraftKings is looking for people from all industries who can help the company succeed.

Cryptocurrencies are so new and fast-growing that “we do not want to miss out on premier talent by focusing solely on crypto natives,” said Beiriger.

Recruiting a diverse pool of employees with a variety of native professional backgrounds or transferable skill sets is as important to us as bringing on new customers.


Could this trademark application indicate that PayPal is developing an NFT market? 

A trademark application for blockchain and cryptocurrency technology has been submitted by PayPal. Some claim that the file has something to do with Web3 and the metaverse, although it may be tied to an NFT marketplace.



A recent trademark application by PayPal has been found, and it suggests the development of a service pertaining to several facets of blockchain technology. The file, which was made on October 18, makes a notable allusion to the potential introduction of a non-fungible token (NFT) market.

For its logo, PayPal submitted two trademark applications. The first one concerns “downloadable software” for cryptocurrency trading and storage. The second discusses cryptocurrency-related payment processing services.

Although users may currently buy cryptocurrencies on PayPal’s platform, this filing suggests that there may be more to come. The concept of assets is substantially broader in the filing’s terminology. Mike Kondoudis, a trademark lawyer licensed by the USPTO, claimed on Twitter that this filing relates to NFTs and the metaverse.

Although there is no proof to support this, it would not be shocking if it were true. The finance business would be adding its name to a lengthy list of businesses that are starting to make inroads into the Web3 and metaverse spaces.

PayPal is investing more in cryptocurrency.
Over the past two years, PayPal has intensified its focus on cryptocurrencies. First, the company made a huge announcement for the industry by saying that consumers would be able to purchase cryptocurrency on its platform.

However, it didn’t start enabling users to move those funds into wallets outside of the network until recently. It indicated that it would roll out additional crypto-related features in the latter part of last year. One of those additions might be an NFT marketplace.

It teamed up with Coinbase’s TRUST network more recently. This was viewed by many as an endorsement of the sector. The TRUST network upholds consumer security and privacy while adhering to the banking industry’s Travel Rule.

Increased Criticism of Payment Giant
Additionally, PayPal has been in the spotlight for all the incorrect reasons. The business has recently come under fire for a contentious policy that penalized users for disseminating false information. Later, it claimed that false information was released with the amended policy. Crypto aficionados, however, were eager to point to this as evidence of the value of decentralization.

PayPal established a blockchain and cryptocurrency advisory committee earlier this year. According to the company’s management, working with governments is essential to overcoming obstacles and seizing possibilities.

Continue Reading


Seba Bank, a cryptocurrency company, aims to store valuable NFTs

Seba Bank, a cryptocurrency company, has launched its first NFT service, a blue-chip NFT-specific institutional-grade, certified, and independently audited hot and cold storage custody product.



The launch comes in response to requests from customers to keep their NFTs with the bank alongside other crypto assets, such as the already-approved Bored Ape Yacht Club, Cryptopunk, and Clone X NFTs. The bank stated that new collections would be added based on customer demand.

With its newest offering, Seba Bank seeks to entice investors who view NFTs as an asset class and crypto natives. Not your keys, not your bitcoin is a well-known phrase in the crypto sphere, and adherents of this maxim could object to having their Apes or Punks stored with a third-party custodian.

Urs Bernegger, co-head of markets and investment solutions at Seba Bank, however, highlights a growing group of NFT holders who are more at ease handing up their NFTs and private keys to a company.

They don’t want the key because they aren’t even aware of how to handle and store it. He claimed that they’re more concerned with damaging the key than giving it to a bank.

It’s a significant issue. Between 2.3 million and 3.7 million bitcoins, according to Chainalysis, are trapped in inaccessible wallets. Numerous accounts of people have lost millions owing to losing private keys, including Russian officials, students, and engineers. Families have also been prevented from accessing substantial quantities of money following sudden deaths in which wallet owners had not disclosed their private keys.

Bernegger asserts institutional custody can be advantageous for native crypto users as well. There has been an increase in businesses providing services that employ NFTs as collateral for conventional banking services like loans.

Seba Bank is thinking about implementing these features in the future. Based in the crypto-friendly Swiss town of Zug, the four-year-old bank already backs several investing, credit, lending, and staking options for cryptocurrencies and might extend them to NFTs.

“Instead of traveling to the market, for instance, we could create a club for collectors and assist them in finding other collectors. There are a few things we have in mind, but we laid the groundwork by storing NFTs securely at first, “explained he.

Continue Reading


The NFT album maker for Kings of Leon now includes a metaverse music venue

YellowHeart, a Web3 ticketing startup, is opening a metaverse music venue in an effort to transform how performers, teams, and event organizers distribute tickets and interact with fans.



The facility, constructed on Spatial, will feature Grammy-nominated blues musician G.Love as its opening act later this year. Fans can communicate with one another, participate in meet-and-greets before and after performances, and use several screens to view what is happening in various areas of the stadium simultaneously.

They will soon be able to order meals and drinks before the event, which will also be available as digital things.

The idea of an online concert has so far primarily been popularized by big gaming companies. The most well-liked virtual competitions have occurred on sites like Fortnite and Roblox. Ariana Grande’s Fortnite concert in August 2021 received 78 million viewers. Next month, Decentraland will host its second Metaverse Music Festival. Over 100 musicians are on the lineup, including well-known performers like Ozzy Osbourne and Soulja Boy.

In addition to throwing an event, YellowHeart, which assisted Kings of Leon in releasing an NFT version of their most recent album, stated that it hoped to accomplish more. It was established in 2017 with the lofty goal of revolutionizing the music ticketing sector as a whole, which has historically been dominated by powerful reselling organizations and exclusive ticketing relationships. These alliances frequently impose limitations on what purchasers can and cannot do with their tickets. Trying to resell a ticket for a concert you can’t go to might be a headache.

YellowHeart believes these issues can be resolved by returning control to artists and fans via web3 technology. Additionally, it may provide advantages that cannot be programmed into conventional tickets.

“These range from complete albums to personalized vinyl records, exclusive merchandise, and immersive visual art. Web3 tickets also allow performers to update fans on new tour dates, music releases, giveaway possibilities, and much more, according to the business.

It has already collaborated with well-known figures, including Julian Lennon, Maroon 5, and MGM Resorts. Contrary to the non-NFT versions offered on Spotify, iTunes, and other platforms, those obtained through YellowHeart entailed particular customer benefits.

Continue Reading


Bitcoin (BTC) $ 23,870.40 3.58%
Ethereum (ETH) $ 1,680.20 6.31%
Tether (USDT) $ 1.00 0.02%
Chiliz (CHZ) $ 0.145463 10.65%
Enjin Coin (ENJ) $ 0.481059 8.86%
Decentraland (MANA) $ 0.805745 11.67%
Flow (FLOW) $ 1.17 12.76%
The Sandbox (SAND) $ 0.771759 10.04%
WAX (WAXP) $ 0.079248 12.69%
ECOMI (OMI) $ 0.000961 3.09%