A First in Crypto: Nasdaq Listed Company Chose This Altcoin!

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Polygon, the blockchain company behind altcoin MATIC, announced that DraftKings, a sports and entertainment company, has joined its ecosystem as a validator as part of its effort to facilitate the growth of Web3 adoption.

Big development for popular altcoin Polygon

Polygon said in a statement that with the development in question, a company listed on the Nasdaq will play a role in Blockchain management for the first time. DraftKings announced on Monday that the collaboration will make DraftKings one of MATIC’s largest validators, following a plan that has been worked on since October.

According to the announcement, DraftKings has partnered with cryptocurrency infrastructure provider Zero Hash to become one of the 100 validators on Polygon, the Ethereum layer-2 scaling network. With DraftKings, some of the roles the leading sports company will take on will include verifying transactions on the network and generating blocks. Sandeep Nailwal, co-founder of Polygon, said:

DraftKings will take its place as an equal community member among existing validators, reinforcing our desire to achieve a decentralized, community-run consensus network.

Polygon continues to evolve

“Participating in the validation process supports DraftKings’ broader strategy of building a robust, sustainable, reliable and decentralized infrastructure to assist future-oriented aspects of our business in the Web 3 era,” said Paul Liberman, global head of technology and product at DraftKings. Some of the crypto projects currently in Ethereum scaling solution include lending platform Aave and NFT marketplace OpenSea.

Last year, DraftKings partnered with Polygon to launch an accessible NFT marketplace. DraftKings launched this marketplace in collaboration with Tom Brady’s Autograph platform, also built on Polygon, in August. Polygon has become a hotbed for sports collectibles platforms in the pursuit of low-cost, fiat-compatible marketplaces. In addition to Autograph, the network hosts the National Football League’s ticket collection experiment alongside OneOf, launched in partnership with Sports Illustrated.