DraftKings NFTs Launching With Autograph The Tom Brady Collection: What Investors Should Know

A leading online sports betting operator announced plans earlier this year to enter the non-fungible token market. Draftkings Inc (NASDAQ: DKNG) shared an update Tuesday with its NFT Marketplace ready to go live Wednesday, Aug. 11.

What Happened: DraftKings Marketplace will launch Aug. 11 with the first Preseason Access Collection. The content is a partnership with Autograph, a company founded by NFL star Tom Brady.

“Autograph’s Advisory Board includes some of the most iconic athletes ever and we could not imagine a more fitting figure than Tom Brady to headline our first ever NFT drop on DraftKings Marketplace,” DraftKings President Matt Kalish said.

Customers can purchase multiple NFTs throughout the day but will only be able to select one at a time when checking out.

The NFTs will be minted on the Ethereum Layer 2.

The purchases will be made with U.S. dollars. The NFTs can be viewed on the DraftKings Marketplace and can also be transferred to a user’s wallet.

The DraftKings Marketplace will also host a secondary sales market to buy and sell the NFTs.

Related Link: DraftKings To Acquire Golden Nugget Online: What Investors Should Know 

The Tom Brady Launch: The initial Tom Brady Premier drop will take place on Aug. 11 with drops beginning at 3 p.m. EDT and being released every hour.

“We created Autograph as a way for fans and collectors to own a piece of iconic moments in sports and entertainment through authenticated and official digital collectibles and we are just getting started!” Tom Brady said.

The Tom Brady Premier releases Aug. 11 are:

• Carbon (5,000 units): $12, 3 p.m. EDT
• Platinum (2,500 units): $25, 4 p.m. EDT
• Emerald (1,500 units): $50, 5 p.m. EDT
• Sapphire (750 units): $75, 6 p.m. EDT
• Ruby (375 units): $100, 7 p.m. EDT

The Tom Brady Signature series will be released Aug. 13 with the following editions:

• Carbon (100 units): $250, 3 p.m. EDT
• Platinum (100 units): $250, 4 p.m. EDT
• Emerald (50 units): $500, 5 p.m. EDT
• Sapphire (25 units): $750, 6 p.m. EDT
• Ruby (12 units): $1,500, 7 p.m. EDT

What’s Next: The company announced former NHL superstar Wayne Gretzky will be the second featured athlete in the NFT collection.

Other athletes who are part of future Preseason Access Passes include Tony Hawk, Naomi Osaka, Derek Jeter and Tiger Woods, who have exclusive rights deals with Autograph.

The company said additional athletes will be announced soon. DraftKings is serving as the exclusive distributor of NFT content from Autograph.

Autograph also has a partnership with Lions Gate Entertainment Corp. (NYSE: LGFA)(NYSE: LGFB) to create NFT content based on the company’s portfolio of television and movies.

“We envision DraftKings Marketplace being a premier platform for all within a trend that is decidedly here to stay,” Kalish said.

DKNG Price Action: DKNG shares are up 0.42% to $52.58 Tuesday. 

Photo: Courtesy DraftKings