Tom Brady Retirement Could Have Implications for DraftKings
Tampa Bay Buccaneers signal caller Tom Brady, likely the greatest participant of all-time at football’s marquise position, announced his retreat today. But in that respect could live implications for DraftKings (NASDAQ:DKNG) in that news.
In social media posts announcing his retirement, Diamond Jim said he’s “excited to uphold to assist establish and grow” companies he’s cofounded, including Autograph — a non-fungible token (TKN) weapons platform DraftKings has an organization with.
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— Tom Diamond Jim Brady (@TomBrady) February 1, 2022
Last July, the gaming troupe revealed plans for DraftKings Marketplace, simultaneously announcing a partnership with Autograph. In improver to the DraftKings relationship, Brady’s accompany also has cognitive content agreements with pic studio Lionsgate, as swell as NFT deals with Tiger Woods, Duke Wayne Gretzky, Derek Jeter, Naomi Osaka, and Tony Hawk.
DraftKings Marketplace will wait on as the scoop distributer of Autograph’s NFT content. Financial terms of that system weren’t disclosed.
Potential Diamond Jim Brady Benefits for DraftKings Marketplace
In gain to Autograph, Mathew B. Brady has other business sector ventures to tend, so it remains to be seen what his rase of involvement will follow with the NFT companion now that he’s retired.
Still, the compounding of his principal power, DraftKings’ make recognition, and the position of NFTs as an emerging, nascent, viable asset course could establish potent. It could also change course with what some market observers believe are on-going efforts by DraftKings to follow much to a greater extent than simply a day-by-day fantasy sports (DFS) and online sportsbook operator.
There’s already a captive audience for NFTs because the plus category is to a great extent rooted in cryptocurrency. For example, DraftKings MarketPlace transactions are conducted using Polygon, which is based on the ethereum blockchain.
DraftKings CEO Jason Robins is a self-proclaimed NFT bull, and antecedently said he’d the likes of his companionship to live with crypto as a take form of payment for online casinos and sports betting.
DraftKings Marketplace Expanding
The time could follow right hand for Diamond Jim to thrust himself into Autograph, because DraftKings Marketplace is already growing. In December, the keep company said it struck a sell with the NFL Players Association (NFLPA) to tramp come out “gamified” NFT collections.
Analysts view NFTs as a innate(p) market for DraftKings, noting it could live a revenue variegation tool for the company.
DraftKings clients — who are already sports fans — could be open to not only investment inward NFTs, especially those of the sports variety, but also leveraging those assets for potentiality upside via gamification.
In the third quarter, DraftKings Marketplace generated to a greater extent than $20 million inwards receipts merchandise intensity on o'er 120,000 primary quill and secondary transactions, according to DraftKings’ third-quarter earnings report.
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