Whether or not you understand NFTs (non-fungible tokens), are and how they work, you have undoubtedly heard of NFTs, a trendy new digital collectible that has been sweeping the world in recent years.
The DraftKings Marketplace presents one of the best places to easily buy, sell, and trade premium NFTs across sports, entertainment, and culture.
The platform is relatively new and set for future growth. Still, DraftKings account holders can already participate in some interesting NFT drops powered by the NFT platform Autograph, DraftKings, and other NFT providers.
If you are new to the world of NFTs, keep reading and find out how to use the DraftKings Marketplace, how you can use it, and what types of NFTs you can look forward to getting your hands on.
How Do I Buy NFTs on DraftKings Marketplace?
DraftKings Marketplace is one of the biggest NFT marketplaces for sports NFTs, which also offers occasional NFT collections across other niches such as entertainment, culture, and more.
Football fans will be particularly interested as DraftKings has full licensing rights for every football player in the NFL, allowing it to use their names and likenesses for gamified NFL player NFTs.
All verified DraftKings account holders can use the DraftKings Marketplace in full, which includes joining new collection drops to purchase NFTs, listing their own NFTs for sale, and more.
To get started, you will need to fund your DraftKings account with some cash and then wait for a new NFT collection to drop.
Once a drop is available, here is how you can get a hold of your first DraftKings NFT:
Step 1 — Join the Queue: Once a new NFT collection is available, you can join the queue of your choice. The platform will place you randomly in a queue, which will determine your priority in buying an NFT from the collection.
Step 2 — Buy Your NFT: You will need to act swiftly when your time comes to buy an NFT. The platform won’t hold your place in the queue for long, so make sure you take your opportunity to buy a premium NFT.
Step 3 — Claim Your NFT: The queuing process is entirely random, which means you will need to get lucky to get a good place in the queue and buy the NFT you want. If you are out of luck with a given collection, you can always try again the next time an exciting collection drops.
It is important to note that your place in the queue for a particular NFT collection will be determined entirely by chance, and your previous NFT buys won’t impact it in any way.
All DraftKings account holders will have an equal opportunity to participate in every drop. However, you should ensure you have a stable internet connection and be present during a drop so as not to miss out when your queue number comes up.
Sell Your NFTs to Other Users
You can use the DraftKings Marketplace not only to buy new NFTs but also to sell the ones you managed to get your hands on.
Since NFTs are collectibles and the number of unique ones in each collection is limited, the demand for certain NFTs can be pretty high. This means you can sell the NFTs you managed to get at a premium to other collectors looking to complete a collection.
If you have a DraftKings account, you can list any NFTs you purchased on the platform for sale, with all interested parties given a chance to bid on them and take them off your hands.
This makes DraftKings Marketplace a potential opportunity to earn, as a few clever buys can earn you a hefty profit.
Who Can Trade at DraftKings Marketplace?
Unlike most DraftKings products which are based on gambling, DraftKings Marketplace is a trading platform, which means it is not subject to the same rules and regulations.
Residents of all 50 states who sign up for a DraftKings account can participate in the Marketplace, provided they are at least 18 years old (in most states). Players must be 19 years old in Nebraska and Alabama and at least 21 in Arizona, Iowa, Louisiana, and Massachusetts.
You will also need to thoroughly verify your identity with DraftKings before using the Marketplace to buy and sell NFTs, and you will have to fund your account with real money to participate in drops and buy NFTs.
Past this, there are no restrictions on who can use the DraftKings Marketplace to either buy or sell NFTs, as it is an entirely open market for people across the US.
