• Loading stock data...
Thursday, November 7, 2024
The Best Employers in Sports survey is open through Nov. 13 Learn More

DraftKings, UFC to Launch Gamified Digital Collectibles

  • UFC and DraftKings will release NFTs that allow fans to build collections of fighters.
  • DraftKings has access to more than 500 UFC athletes.
Gary A. Vasquez-USA TODAY Sports

DraftKings and mixed martial arts organization UFC are teaming up to launch gamified digital collectibles as part of a deal worth more than $100 million over five years. 

The gamified digital collectibles — expected to go live later this year — will arrive just as the UFC has pinned down its first official deal with a sportsbook in March 2021, entering a pact with DraftKings that encompasses a $250 million commitment to promote DraftKings’ UFC products. 

Boston-based daily fantasy sports and betting company DraftKings and UFC will release NFTs that allow fans to build collections of fighters to compete against other users for prizes.

  • DraftKings has access to more than 500 UFC athletes.
  • Collectors will be able to earn both digital and physical rewards. 

Doing business with crypto-and-NFT-based products means taking risks, as the crypto market saw more than $200 billion in value wiped away over the weekend and into the start of this week. On Monday, the market tumbled below $1 trillion for the first time since February 2021. 

UFC has displayed a commitment to crypto and the blockchain despite the uncertainty. Last week, the organization secured a five-year, $100 million deal with blockchain platform VeChain. 

Hot and Cold

DraftKings generated $417 million in revenue in Q1 2022, but the company faces an uphill battle to reach profitability. It posted a net loss of $468 million during the quarter, compared to $346 million in Q1 2021.

Endeavor, the parent company of UFC, reported $1.5 billion in Q4 totaling $5.1 billion in 2021.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Lululemon-Fanatics Collab With NHL Sees ‘Explosive’ First-Day Sales

The premium collection made up 80% of all NHL merch sales.
Feb 1, 2024; Toronto, Ontario, CANADA; Team King defender Savannah Harmon (15) scores against Team Kloss goaltender Nicole Hensley (29) during the PWHL 3-on-3 Showcase during NHL All-Star Thursday at Scotiabank Arena.

PWHL Will Add Two Teams in Expansion Move

Possible new sites include Detroit, Pittsburgh, and Quebec City.

Endeavor, TKO Consolidate Sports Assets, Hoping They’re Better Together

The move brings On Location, Professional Bull Riders, and IMG under TKO.
Former UFC fighter Cung Le

Judge Allows Reworked $375 Million Settlement for UFC Fighters to Move Forward 

Hundreds of fighters could start to see six-figure payouts next year.
podcast thumbnail mobile
Front Office Sports Today

The NFL Player Set to Inherit a US Potato Empire

0:00

Featured Today

NFL Center Connor McGovern Is the Heir to a Potato Empire

The NFL vet’s family provides potatoes for McDonald’s, Wendy’s, and others.
Vanderbilt Commodores fans head to the south end zone as the goal post is taken down by exuberant fans after beating No. 1 Alabama 40-35 at Vanderbilt Stadium in Nashville, Tenn., Saturday, Oct. 5, 2024.
opinion
November 2, 2024

Something New in College Football This Year: Parity

Upsets, surprises. CFB is more fun on the field than the NFL.
Sep 28, 2024; Tuscaloosa, Alabama, USA; GOP Presidential candidate Donald Trump waves flanked by former Georgia Bulldogs player Herschel Walker, recording art Kid Rock, professional golfer John Daily, Alabama senators Tommy Tuberville (R) and Katie Britt (R) during the second half of the game between the Alabama Crimson Tide and the Georgia Bulldogs at Bryant-Denny Stadium.
November 1, 2024

Mission Swing State: College Football’s Political Advertising Battle

Trump, Harris, and the PACs that support them are utilizing the sport.
October 31, 2024

The Untapped Revenue ‘Powder Keg’ of Women’s NFL Fandom

There’s a “boatload” of money at stake for brands and the league.

UFC’s Vegas Sphere Fight Should Set Records

The MMA fight has big aspirations and a budget to match.
August 13, 2024

Duael’s One-On-One Racing Brackets Are Yet Another Stab at Saving Track

Duael will debut in March 2025 with the inaugural Duael 100.
September 8, 2024

Guardian Caps Make NFL Debut

Multiple NFL players wore Guardian Caps over their helmets Sunday.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
August 11, 2024

Guardian Caps Have Arrived in the NFL—Ahead of Schedule

Colts star Jonathan Taylor strapped one on for Sunday’s preseason game.
August 5, 2024

How Omega Timing Determined Noah Lyles Won Olympic Gold

Omega touches every corner of the Olympics.
The Adidas ball has changed over the years.
July 25, 2023

The Most Advanced Tech at the Women’s World Cup Might Surprise You

This year’s OCEAUNZ introduces connected ball technology to the women’s game.
Sponsored

Rewriting the Sports Media Playbook

WSC’s highlight automation improved Clemson’s content strategy and overall growth.