DraftKings Marketplace Review & NFT Guide (August, 2021)

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DraftKings Marketplace Review & NFT Guide (August, 2021)

DraftKings Marketplace

DraftKings Marketplace is officially live across the United States! DraftKings had announced that beginning on August 11, 2021, it would branch off into the NFT space via DraftKings Marketplace. For its launch, DraftKings Marketplace started with exclusive Tom Brady NFTs, and its next drop is going to feature some Wayne Gretzky NFTs. There are plenty of other athletes in its beginning drops as well, including Tony Hawk, Tiger Woods, Derek Jeter, and Naomi Osaka. All will be available on DraftKings Marketplace (and only DraftKings Marketplace.) Remember, you have to be at least 18 years old in North America (the United States and Canada) to exchange NFTs on DraftKings Marketplace. Additionally, you must be at least 19 in Nebraska and Alabama and over 21 in Iowa, Massachusetts, and Louisiana.

DraftKings Marketplace Promo Code

There is not a new-user bonus at this time. DraftKings Marketplace may eventually have a promo code, so make sure to keep an eye out on this page as we will keep you updated on it. DraftKings Marketplace is a way to buy and exchange sports-related NFTs, so there are not any signs of a first-time user bonus in the future, but we will be one of the first to report it if a promo code does come out. A promo code in the future could include a one-time discount on an NFT by either dollars or a percent of the total cost. It is not likely for DraftKings Marketplace to have a first-time user promo code similar to its sportsbook because the nature of those two sides of DraftKings is different.

To sign up for DraftKings Marketplace simply at Lineups.com

What is An NFT?

NFT stands for “Non-Fungible Token.” A “Non-Fungible Token” is a unit of data that is unique and stored on a blockchain. The blockchain tracks the ownership on an NFT and, therefore, provides the owner with a “proof of ownership” that serves as a digital version of a license. The main difference between a cryptocurrency like Bitcoin and an NFT is that a Bitcoin always maintains the same value relative to another Bitcoin. On the other hand, an NFT is different because each underlying asset represents something separate. NFTs can be in games, collectibles, music, film, memes, and obviously, sports. NFTs have gained significant popularity over the past year, especially during the pandemic as a future digital asset (cards, art, etc.) alternative.

How to Use DraftKings Marketplace

DraftKings Marketplace is accessible via any of its mobile apps or on the web. Once you are on the mobile app or web page, you can head over to “Marketplace,” which is a tab located next to “Fantasy,” “Casino,” and “Sportsbook” tabs. The Marketplace has recently been added and is easy to access on the site and app and does not require you to create a separate DraftKings account if you already have an existing one. After you navigate to the “Marketplace,” you will see tabs “drops,” “browse,” “portfolio,” and “about.” The drops tab shows upcoming drops and the time and day of those drops. You can use the browse tab to look at the market for the NFTs available on DraftKings and buy and sell them. The portfolio tab holds all of your NFTs that you own, and you can toggle through them and view them whenever you want. In the about tab, you can find more information about NFTs if you do not fully understand them and subsequent announcements related to the general market.

1

Download DraftKings

Downloading DraftKings is super easy, and you can access the Marketplace from any of DraftKings’ mobile apps. As mentioned above, you do not need to create a unique account specifically for the Marketplace. DraftKings is available on both iOS and Android as apps for download. They are free to download, but you have to fund the account if you want to buy an NFT.

2

Sign-Up

Signing up for DraftKings Marketplace is super simple. You undergo the same process as if you were just signing up for a regular DraftKings account. To register for an account with DraftKings, and consequently, DraftKings Marketplace, you will need to provide your entire name, home address, date of birth, phone number, and email address.

3

Banking

DraftKings Marketplace has several different banking options to ensure that your account is fully funded before NFTs drop on the site. The various methods are PayPal, credit card, debit card, or DraftKings gift card. On the deposit page, you can see how much funds you have available, as well as deposit limits and minimum deposits. If you want to change your deposit limits, you can do that too.

Participate in a Drop / How it Works

To participate in a drop, you have to understand how it works and the process behind it. It starts with DraftKings Marketplace dropping a scheduled date and time for a particular NFT drop. You have to go on to DraftKings Marketplace and “Join the Drop” before the date and time. Otherwise, you will not be added to the queue for a randomized chance of having the opportunity to buy the NFT. DraftKings Marketplace has a specific page called “Drops,” where you will go to get in the queue or see any active or scheduled drops. If you are in the queue, but your randomized position does not allow you to buy the NFT you want, you can browse the secondary market for it, as it will be likely that someone is looking to sell it.

Types Of DraftKings NFTs

DraftKings will offer many different types of sports NFTs. Initially, DraftKings will partner with Autograph to bring its official digital collectibles to the Marketplace. Elite athletes across all major sports will be featured in these NFT drops. As time goes on, the NFTs will begin to grow in both variety and type. The founder of Autograph already has stated that as the world becomes more comfortable with NFTs, they will expand them to include more personalized content from athletes and teams. For right now, DraftKings has NFTs that are part of the Preseason Access Pass release. The athletes included are Wayne Gretzky, Tom Brady, Derek Jeter, Tiger Woods, Tony Hawk, and Naomi Osaka. There will most likely be thousands of other NFTs on the way in the future, though.

The Marketplace Breakdown

DraftKings Marketplace has both a primary and secondary market for its NFT offerings. When there is a drop, users will get in line, or a queue, to hopefully be chosen at random for a chance to buy an NFT. Once the drop has happened, users have the opportunity to sell their NFTs on the secondary market. The secondary market is where users can buy NFTs from other users who already got the NFT, either from the drop or from another user. Once you spend some time on the DraftKings Marketplace, it is easy to understand and use.

DraftKings Marketplace FAQ

  • Is DraftKings marketplace legal in the United States?
  • What is an NFT on the DraftKings marketplace?
  • What is the difference between the secondary and primary markets?
  • Where can I access DraftKings Marketplace?
  • How can I be first in line for an NFT drop on DraftKings Marketplace?
  • Will NFTs increase in value?
  • What makes my NFT valuable?
  • What is the importance of a Preseason Access Pass NFT?
  • Are there multiple times for each drop?
  • What is the portfolio page?

Is DraftKings marketplace legal in the United States?

Yes, DraftKings Marketplace is legal in the United States and available to anyone 18 years or older. There are a few states where age requirements vary, such as Nebraska and Alabama, where you have to be 19, and Iowa, Massachusetts, and Louisiana, where you must be at least 21.

What is an NFT on the DraftKings marketplace?

NFT stands for “Non-Fungible Token” and is utilized as a digital asset. NFTs recently have gained prominence and have had great success in sports, with NBA Top Shot reeling in millions. NFTs represent a digital asset, and each asset is different, and that’s why cryptocurrencies like Bitcoin are not NFTs.

What is the difference between the secondary and primary markets?

The primary market is referred to on DraftKings Marketplace as “drops.” A drop is a scheduled time and date where you have the opportunity to buy an NFT if your randomized position in the queue lands in a specific area. The secondary market is where users can exchange NFTs.

Where can I access DraftKings Marketplace?

DraftKings Marketplace is accessible through any of DraftKings’ mobile apps as well as its website. It is super easy to access, as it now has a large tab next to “Casino,” “Fantasy,” and “Sportsbook.” Once you click on the “Marketplace” tab, you are in and good to go.

How can I be first in line for an NFT drop on DraftKings Marketplace?

Unfortunately, there isn’t a way to guarantee a high spot in the queue as it is randomized once the drop begins. This creates an even playing field for people who don’t have time to wait in a queue. However, obtaining a Preseason Access Pass NFT will grant future preferential access.

Will NFTs increase in value?

There is no way to 100% guarantee that your NFT will increase in value over time, and that is the inherent risk of investing in anything. Regarding sports NFTs, many people liken them to sports trading cards, which have seen massive growth recently as well.

What makes my NFT valuable?

The critical aspects of an NFT are its uniqueness, quantity, and quality. If there are thousands upon thousands of versions of one NFT, it will likely not be as valuable as one with only ten created. Additionally, if an NFT features LeBron, it will probably be more valuable than most.

What is the importance of a Preseason Access Pass NFT?

These are the first NFTs that the DraftKings Marketplace offers users, as it recently launched on August 11, 2021. DraftKings Marketplace also stated that owning one will grant preferential access to future NFT drops from “Autograph,” regardless of the edition.

Are there multiple times for each drop?

The short answer is yes. For instance, the Wayne Gretzky NFTs that DraftKings Marketplace have five different drop times, each at the top of the hour. This seems to be how most of the drops will be in the future for DraftKings Marketplace.

What is the portfolio page?

The portfolio page that is located on the DraftKings Marketplace is a place where you can access, view, or sell all of your NFTs that you have bought through DraftKings. The portfolio page is similar to a digital wallet for your NFTs.

DraftKings Marketplace Review

DraftKings Marketplace Review & NFT Guide (August, 2021)

Name: DraftKings Marketplace

Description: DraftKings Marketplace officially launched on August 11, 2021, part of DraftKings’ shift into the NFT market. It decided to go with Tom Brady as its first athlete NFT and DraftKings had great success. DraftKings is the first major sportsbook to also dip into the NFT space, and anyone who follows in its footsteps will have a tough act to follow. The Marketplace is another step in the right direction regarding DraftKings establishing dominance in the sports world as its NFTs are sports-centric. After NBA TopShot had such incredible success, DraftKings wanted to get in on the fun, and so far, so good.

Operating System: Android, iOS

Application Category: Game

Author: Andrew Norton

  • NFT Selection
  • Interface
  • Queues
  • Banking
  • Support

4.2

Summary

DraftKings Marketplace was released to rave reviews about its lack of bugs, glitches, and banking issues. It was smooth and efficient with no substantial glitches or user-interface concerns. DraftKings does a great job explaining NFTs, the market, and how to get involved throughout its pages. Additionally, DraftKings has plenty of solid deposit options to ensure clients can fund their accounts with simplicity. DraftKings will have an opportunity to put pressure on the market if it can implement a way to put external NFTs onto your DraftKings Marketplace portfolio. Lastly, DraftKings will need to limit one entry into a queue per account so that users don’t get multiple spots. All in all, it was an excellent launch for DraftKings Marketplace, and if it continues to improve and diversify its NFT content, then it will be very successful in the space.

Well Done

  • Quick, efficient, no notable glitches
  • Banking options are sufficient
  • User-interface
  • Straightforward, educational, easy to understand

Needs Help

  • External access to other NFTs previously bought
  • Need to find a way to limit queue line to one user (multiple devices)