DraftKings Tom Brady NFT Launch Sells Out, Gets Rave Reviews: What Investors Should Know

The DraftKings NFT Marketplace officially launched Wednesday with the release of the Tom Brady Premier series. The NFTs are through a partnership with Autograph, a company founded by Brady.

Here’s more information on the initial launch and what’s to come.

What Happened: A series of Tom Brady NFTs launched on Aug. 11 ranging in price from $12 to $100. They were released every hour beginning at 3 p.m. ET with the final launch at 7 p.m. ET.

Here are the items that were launched:

• Carbon (5,000 units): $12
• Platinum (2,500 units): $25
• Emerald (1,500 units): $50
• Sapphire (750 units): $75
• Ruby (375 units): $100

The NFTs sold out with the first one selling out in a reported 12 minutes. Users praised the technology and platform and its ease of use. Customers were able to use their existing Draftkings Inc DKNG account and pay with U.S. dollars instead of cryptocurrency like other NFT projects.

Users could join a waiting room lobby 30 minutes early and be assigned a random spot in line for the drop. More than 15,000 people tried to get the first few drops and the numbers continued to rise as the drops went on with more demand and word of mouth coming in on the project.

The current lowest price for the NFTs are:

• Carbon: $190
• Platinum: $250
• Emerald: $400
• Sapphire: $870
• Ruby: $3,100

This could be a major win for DraftKings as it demonstrated the ease of use for its platform and gained interest in the project while it was happening. The company also likely gained some new customers into its ecosystem to promote its daily fantasy sports and online sports betting.

Sales of the NFTs were deposited into the DraftKings account making it incredibly easy for a user in a state that has legalized sports betting to place wagers with their profits.

Related Link: 10 Most Expensive Sports Cards: Curry, Mantle, Wagner And More 

What’s Next: DraftKings isn’t done with Tom Brady NFTs yet. On Aug. 13, the following NFTs will launch in the Tom Brady Signature series:

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

The next athlete in the series will be Wayne Gretzky. Autograph also has deals for NFTs with Derek Jeter, Tiger Woods, Tony Hawk and Naomi Osaka.

DraftKings highlighted the NFT Marketplace in its recent earnings report and could continue to provide periodic updates in the coming weeks.

DKNG Price Action: DKNG shares are up 3.17% to $53.83 on Thursday.

See also: How to Buy DraftKings, Inc. (DKNG) Stock

Photo: Courtesy DraftKings