The rise of the Non-Fungible Token (NFT) market has caught the attention of multiple areas of business, not least the betting sector, which has seen companies such as DraftKings enter the space.
Launching its DraftKings Marketplace NFT platform earlier this year, the US sports betting and daily fantasy sports (DFS) operator detailed at the time that it had recognised the value of the NFT sector, which generated $2.5 billion in sales volume during the first six months of 2021.
Shortly after appearing on the SBC Leaders panel at the SBC Summit North America last week, DraftKings’ Chief Business Officer, Ezra Kucharz, explained to SBC’s Senior Media Executive Erin Gallagher that the company maintains its focus on NFTs alongside its other verticals.
“We are committed to the NFT space, and we have an NFT marketplace that does really well,” he remarked.
“It’s focused today on sports, but you’ll see us do some new and interesting things over the next year or so. We think NFT collectibles are something that sports fans are really really excited about.”
In addition to sports betting and NFTs, as mentioned previously, one of DraftKings staple products is its DFS offering. Although sports betting has surged across the US, driving significant revenue across a number of states, Kuchartz maintained that DFS will remain a core part of the firm’s product range.
The CBO continued: “Daily Fantasy Sports is part of our main product suite. Sports fans love it – It’s a different user experience, it’s something you get to play against friends and people get really excited about, on a daily basis, being able to change your lineup and it’s so it’s a great, fun experience.”
Lastly, Kuchartz also shared his predictions for the future development of the stateside betting and gaming industry, outlining similar viewpoints to other attendees.
Like Gina Smith, Deputy Director of Gaming Compliance at the Virginia Lottery, the DraftKings CBO anticipates strong growth across the country, whilst also agreeing with Drive by DraftKings Partner Kiki Mills Johnston on continued innovation in the space.
He added: “I think that up to this point the industry has been growing and there’s been some innovation.
“By the next year or two there’s going to be larger growth, more innovation and new interesting products that we’re all going to bring to market.”