Sports-betting firm DraftKings to become a full validator for the Polygon network

DraftKings, a sports-betting company with a $20 billion market capitalization, announced Monday that it will become a full validator for the Polygon Network, an Ethereum-based scaling platform. 

DraftKings Marketplace, an ecosystem that focuses specifically on NFTs, will launch a node on the Polygon Network to authenticate transitions using a proof-of-stake consensus protocol — reducing the carbon and monetary cost of each transaction. This marketplace has previously used Polygon.

“Scalability and sustainability remain among the critical challenges of blockchain technology, so as we lay the groundwork today for the vision of DraftKings Marketplace tomorrow, the vast insights and proven products from Polygon around scalable solutions are invaluable,” said Paul Liberman, co-founder and president of global product and technology at DraftKings, in a statement.


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

In late August of this year, DraftKings collaborated with the Tom Brady-backed NFT marketplace Autograph to launch Preseason Access Collection, a marketplace for NFT collectibles from famous athletes such as the Jamaican sprinter Usain Bolt and U.S. gymnast Simone Biles

Ethereum’s fees have been high since September of 2021, The Block’s data shows, adding between $20 and $40 to each transaction. The high fees, coupled with the environmental impact of every transaction, have urged some users to move away from Ethereum toward different, cheaper blockchains such as Solana and now Polygon.  

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.