FanDuel Says NBA Contest with High Shot NFT Prizes Was a Hit, Plans Extra Crypto Prizes

FanDuel final week supplied a free-to-play fantasy NBA contest with NBA High Shot NFTs as prizes. Now the corporate tells Decrypt it was its hottest fantasy contest of 2021 thus far, and the corporate’s hottest free-to-play contest ever that wasn’t round a “tentpole occasion” just like the Tremendous Bowl or March Insanity.

The each day fantasy sports activities (DFS) and sports activities betting operator partnered with High Shot creator Dapper Labs to supply the competition, FanDuel’s first time providing NFTs as prizes. (FanDuel has twice previously awarded cryptocurrency as a contest prize.) It noticed greater than 80,000 entries.

NFTs or non-fungible tokens are distinctive, blockchain-based tokens used as possession deeds tied to digital or bodily belongings, from artwork to music to digital buying and selling playing cards. On High Shot, which runs on the Movement blockchain, the NFT “moments” are video spotlight clips that embrace a gap animation and a serial quantity to replicate how restricted the moments are.

Identical to with bodily buying and selling playing cards, High Shot collectors purchase packs containing a number of “moments” that may re-sell for hundreds of {dollars} relying on their shortage. The costliest High Shot re-sales have included a LeBron James dunk for $280,000, and a Zion Williamson block that went for $100,000. The NFT market, which does not require customers to pay in cryptocurrency, has grow to be so widespread within the mainstream that NBA gamers have been heard saying “Put that on Top Shot” after an enormous play.

Within the FanDuel contest, which coated 9 NBA video games final Thursday, the highest 5 finishers every acquired a High Shot “Holo Icon Legendary Pack,” which bought for $999 per pack when the sequence was minted in February and once more in April; the subsequent 10 finishers (Nos. 6-15) acquired a Rising Stars pack ($199 per pack after they final dropped in March); the subsequent 55 finishers (Nos. 16-70) every acquired a Frequent Base set pack, the $9 entry-level High Shot pack.

In whole, FanDuel gave away $7,480 value of High Shot packs. An organization spokesperson says FanDuel plans t0 provide extra crypto prizes this yr.

And FanDuel’s not the one fantasy sports activities title to go crypto. Final month, its rival DraftKings held a fantasy golf contest round The Masters with a uncommon CryptoPunk NFT value $70,400 because the prize. (CryptoPunks are historic by NFT requirements, launched in 2017 by LarvaLabs.) That is ten occasions the worth of the NFT prizes FanDuel supplied—however multi functional NFT that went to 1 winner.

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