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DraftKings Steps Further Into Crypto With Plans to Become Polygon Validator
The move will allow the sports betting platform to contribute to Polygon’s governance.
Von Eli Tan
DraftKings tapped Polygon for its marquee non-fungible token (NFT) release with Tom Brady’s Autograph back in August.
Now the sports betting giant is going all-in on the Ethereum layer 2 application with a partnership that could make it one of the blockchain’s largest governors.
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DraftKings, valued at nearly $20 billion on the public market, is planning to use Polygon to support custom NFT drops and secondary-market transactions.
“Scalability and sustainability remain among the critical challenges of blockchain technology,” Paul Liberman, president of global product and technology at DraftKings, said in a statement Monday. “Although DraftKings Marketplace is still in its nascency, we are bullish on the possibilities that blockchain, NFTs, cryptocurrency and more will present as we prepare for Web 3.0 alongside Polygon and the new innovations ahead for digital collectibles.”
Read more: DraftKings Charts NFT Long-Game With Marketplace Debut
The partnership also gives DraftKings the option to contribute to Polygon’s governance, a system where token holders have a say in implementing changes to the network after staking their tokens on the platform.
A Polygon representative told CoinDesk in an interview the company anticipates DraftKings’ governance to begin “in the next month.”
Europe’s largest telecommunications company, Deutsche Telekom AG, pulled a similar move in February, providing backend support for Chainlink and Flow, the blockchain that hosts NBA Top Shot.
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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