March Madness is full of big shots dropping as teams survive and advance. The NCAA Tournament is one of the top sports betting events and DraftKings has a big drop of its own planned.
DraftKings introduced a PrimeTime NFT Series which will commemorate the biggest moments in sports. The first part of the series is the 2022 College Hoops Collection which has its first drop on March 16. Seven other DraftKings Primetime NFT Series drops follow. Each “Tourney Toons” NFT is NCAA Tournament-themed like “Going Dancin’” and “Bubble Team.”
DraftKings 2022 College Hoops Collection Drop Schedule
How to get DraftKings NFTs
- DraftKings will be dropping NFTs from the 2022 College Hoops Collection from the start of the NCAA to the finals.
- The DraftKings Marketplace is currently only available in the United States and Canada.
- You must have a verified DraftKings account.
College Hoops Collection NFT Drop Schedule
| College Hoops NFT | Drop Day/Time | Price | Editions |
|---|---|---|---|
| Going Dancin’ (Common) | March 16 4 p.m. | $10 | 6,464 |
| Bubble Time (Elite) | March 16 5 p.m | $75 | 1,616 |
| Bracket Buster (Common) | March 22 4 p.m. | $15 | 4,444 |
| Sweet Celebration (Elite) | March 22 5 p.m. | $100 | 888 |
| Elite Energy (Common) | March 29 4 p.m. | $25 | 3,232 |
| Advance in the Dance (Elite) | March 29 5 p.m. | $150 | 444 |
| Cutttin’ Down Nets (Common) | April 1 4 p.m. | $50 | 2,022 |
| Fairytale Ending (Elite) | April 1 5 p.m. | $200 | 222 |
Collectors who have all eight editions of the College Hoops Collection after the championship game will be airdropped a ninth commemorative NFT as a reward for collecting the full set. The airdrop will grant collectors priority access to the next Primetime NFT Series drop.
There will also be exclusive one-of-one (1/1) editions of all eight NFTs, which will be auctioned off concurrently using DraftKings Marketplace’s recently launched auction platform.
NFTs and sports betting
DraftKings is the first U.S sportsbook to have a marketplace. Now they have introduced something new in terms of combining NFTs for site credits. With each drop, collectors will be eligible to receive site credits (DK Dollars) that can be used at DraftKings sportsbook or for DFS. (reward structure below. All times EST).
DraftKings NFT reward structure
| NFTs Needed | Date to Hold By | Reward |
|---|---|---|
| Going Dancin’ + Bracket Buster | March 24 10 a.m. | $5 DK Dollars |
| Going Dancin’ + Bracket Buster + Elite Energy | March 31 10 a.m. | $10 DK Dollars |
| Going Dancin’ + Bracket Buster + Elite Energy + Cuttin’ Down Nets | April 4 10 a.m. | $20 DK Dollars |
| Bubble Team | March 17 10 a.m. | $15 DK Dollars |
| Bubble Team + Sweet Celebration | March 24 10 a.m. | $30 DK Dollars |
| Bubble Team + Sweet Celebration + Advance in the Dance | March 31 10 a.m. | $60 DK Dollars |
| Bubble Team + Sweet Celebration + Advance in the Dance + Fairytale Ending | April 4 10 a.m. | $100 DK Dollars |
DraftKings NFTs
The Primetime NFT Series is the first fully in-house NFTs launched by DraftKings. In July 2021, DraftKings launched Marketplace to buy, sell, and trade digital collectibles in partnership with Autograph, an NFT platform owned by Tom Brady. Other exclusive NFTs from Autograph included Brady, Wayne Gretzky, Derek Jeter, Tiger Woods and others.
Matt Kalish, co-Founder and president of DraftKings, commented in a press release:
“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 times on the sports calendar can match the drama and spectacle of March’s college basketball tournament, which is why we chose this monthlong event to initiate this new digital collectibles program.”
DraftKings doubling down on digital
At the recent Bank of America’s Sports Betting and Online Gaming Virtual Event, DraftKings CFO Jason Park said NFTs are the first product category in the marketplace. In the short term, DraftKings expects $70 million in revenue from Marketplace in 2022.
“Crypto and NFTs were something that our players were already engaging with. We’re seeing great cross-sell once we get them on through the marketplace. Marketplace is something that we would expect to be breakeven or profitable out of the gates.”
Fans can anticipate future drops based on major sporting events. The Primetime NFT Series launch also follows several Web3 initiatives from DraftKings over the past year including an upcoming NFT-based game alongside the NFL Players Association as well as becoming one of the first corporate validators on the Polygon blockchain.
Lead image from DraftKings
