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Nasdaq Listed DraftKings Becomes a Validator on Polygon to Foster the Growth of Web3 Adoption

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Nasdaq Listed DraftKings Becomes a Validator on Polygon.



Blockchain company Polygon (MATIC) has announced that DraftKings, a leading sports and entertainment company, has joined its ecosystem as a validator, as part of an effort to facilitate the growth of Web3 adoption. 

The development happens to be the first time ever a publicly-traded company will be taking an active role in blockchain-related governance, Polygon announced today. 

“A vital Web3 adoption milestone for the whole blockchain industry  DraftKings joins the Polygon ecosystem as a validator & node operator. It’s the first time a Nasdaq-listed company is taking such an active role in a major network.”

 

According to the announcement, DraftKings partnered with a digital asset infrastructure provider Zero Hash in order to become one of the 100 validators on the Ethereum layer-2 scaling network. 

Sandeep Nailwal, the co-founder of Polygon, said: 

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

With DraftKings added as one of the validators of Polygon, some of the roles the leading sports company will be performing will include authentication and validation of transactions on the network and production of blocks, among others. 

Polygon Gradually Becoming Home to Web3 Projects

It is worth noting that Polygon, which launched as an Ethereum layer-2 blockchain network, has, in recent times, become home to some of the biggest Web3 cryptocurrency projects, via the provision of high transaction speed, security, and low cost transactions. 

Some of the crypto projects currently on the Ethereum scaling solution include lending platform Aave and non-fungible token marketplace OpenSea. 

Last year, DraftKings partnered with Polygon to launch an accessible NFT marketplace. 

Commenting on the development, Paul Liberman, co-founder and president of global products and technology at DraftKings, said:

“Gaining exposure to staking technology supports DraftKings’ broader strategy of building out a robust, sustainable and decentralized infrastructure to help futureproof aspects of our business in the Web3 era.”

Meanwhile, Polygon recently partnered with Raiinmaker to launch a Create-to-Earn initiative that will see users get rewarded for posting content on the Raiinmaker social media platform. 

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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