A recent Technavio study suggests the fantasy sports industry is projected to grow by more than $6B over the next four years, making it a perfect complement for the fast-paced and burgeoning web3 and NFT ecosystem.
DraftKings thinks so too.
A leading daily fantasy sports and sports betting platform, DraftKings recently announced the launch of DraftKings Reignmakers, a new way to play fantasy sports utilizing NFTs and blockchain technology.
Below we'll walk through everything you need to know about its fantasy football launch.
What Is DraftKings Reignmakers?
DraftKings Reignmakers is a new NFT-based fantasy sports game built by the daily fantasy sports platform, DraftKings.
Much like traditional or daily fantasy football contests, DraftKings Reignmakers allows users to compete against other users by building lineups full of NFL players and accumulating points for their in-game performance.
However, with DraftKings Reignmakers, lineups are not built using a draft or salary cap. Instead, a user creates a lineup based on the DraftKings Reignmakers NFTs he or she owns.
What Are DraftKings Reignmaker NFTs?
The DraftKings Reignmaker fantasy sports game is composed of two different types of NFTs, field passes and player card NFTs.
DraftKings Reignmaker Field Pass NFT
DraftKings Reignmaker Field Pass NFTs act as access pass NFTs that grant holders exclusive access to contests, player pack drops, and more.
Field Pass NFTs come in five different rarities:
- CORE (least rare)
- REIGNMAKER (most rare)
The rarity of the Field Pass NFT directly impacts the types of exclusive contests and pack drops the holder is eligible for. For example, holding a LEGENDARY Field Pass NFT will grant the holder access to more premium player card NFT pack drops, than holding a CORE Field Pass NFT.
In early July, DraftKings released more details regarding the utility of Field Pass NFTs, including:
- DraftKings Crowns boost
- Freeroll and exclusive contests in Week 1
- Weekly DraftKings Sportsbook Free Bet (up to $100)
- Exclusive swag drops
- Franchise Score boost
Users looking to purchase a DraftKings Field Pass NFT can do so on the secondary marketplace.
DraftKings Reignmakers Player Card NFTs
The second component of the DraftKings Reignmakers platform is the DraftKings Reignmakers player card NFT.
Player card NFTs are the building blocks to creating lineups and entering contests on the DraftKings Reignmakers platform. Each card represents an NFL player and allows the user to accrue fantasy points for the player’s actual on-field performance.
Player Card NFT Rarities
Player card NFTs also come in five rarities: CORE, RARE, ELITE, LEGENDARY, and REIGNMAKER.
Much like rarity impacts the contests or exclusive perks available to Field Pass NFT holders, the rarity of a player card NFT impacts which contests and which lineups a particular player card may be used in.
For example, select contests may require that a lineup is built using an ELITE QB player card NFT. Therefore, a user could only enter a valid lineup if he or she has an ELITE QB player card NFT.
Player Card NFT Positions
Beyond rarity, player card NFTs are also broken out by position. Depending on the contest, users will need to create lineups with a variety of positional NFTs.
Position categories for DraftKings Reignmaker player card NFTs are as follows:
- Skill Starter
- Role Player
- Additional Depth
- Defensive Player
- Rookies (Offense)
- Rookies (Defense)
Each player card NFT will fit into one of the aforementioned positional categories.
DraftKings recently released a full list of available NFL players and their respective player card NFT positional category.
Each positional category maintains a select number of players and respective rarities as well.
Though the number of players in each positional category is subject to change, DraftKings has set a maximum number of player card NFTs that can be associated with each rarity type in a positional category.
The chart below outlines the number of player card NFTs and their respective rarities in each positional category.
SuperStar Player Card NFTs
The final designation for player card NFTs is “SuperStar” status.
To maintain fairness in play, DraftKings has created a small list of NFL players and given them the “SuperStar” status on DraftKings. This SuperStar status ensures that this player can only be used in one lineup.
For example, a user might own two SuperStar player card NFTs, but they may only use one of the SuperStars per lineup, even if those player card NFTs maintain different positional categories.
Those with SuperStatus are designated in the above list of available player card NFTs. The list is subject to change.
How Do You Buy a DraftKings Reignmakers Player Card NFT?
Reignmaker player card NFTs can be purchased via pack drops, auctions, or on the secondary marketplace.
DraftKings Reignmaker pack drops are one of the primary ways to get access to player card NFTs. Pack drops allow users to buy unrevealed quantities of player card NFTs.
Depending on the type of rarity, each Reignmaker pack comes with set guarantees and content likelihoods.
For example, the Genesis LEGENDARY packs come with a guarantee of three RARE, one ELITE, and one LEGENDARY or REIGNMAKER player card NFT per pack. However, the Genesis RARE pack only guarantees four CORE and one RARE, ELITE, LEGENDARY, or REIGNMAKER card per pack.
At present time, only the schedule for Genesis pack drops has been announced.
The next two pack drops, ELEVATE and the main set are expected to take place on August 17 and September 1, respectively.
Reignmakers pack drops provide users with the opportunity to reveal a player card NFT from any of the players in the set. On the other hand, auctions allow users to bid on a specific player of their choosing.
DraftKings Reignmakers will begin hosting its first set of Holo REIGNMAKER tiered auctions on August 5.
Another way to purchase a desired player or rarity tier NFT is by purchasing it on the secondary marketplace.
Users can filter to choose the player, positional category, or rarity of their liking to find exactly the player card NFT they liked.
Additionally, users can purchase unopened Reignmaker player card NFT packs on the secondary marketplace as well.
How Much Does It Cost To Play DraftKings Reignmakers Contests?
All DraftKings Reignmaker contests will be free to enter for player card NFT holders.
Therefore, those who can satisfy the contest criteria with the player card NFTs they own can enter to win cash prizes and more each week, for no additional cost.
What Prizes Are Available on DraftKings Reignmakers?
DraftKings is providing more than $1M in cash prizes to Reignmakers contests each and every week of the NFL season for its traditional Reignmakers contests. Alongside the cash prizes, DraftKings will be awarding prize packs of player card NFTs each week.
Lastly, DraftKings is hosting a 50-person live final in New Orleans at the end of the season. The live final will play host to a $1M contest with $250,000 for first place.
Users will have the chance to qualify in two different ways:
- Win a qualifier contest during the season
- Finish in the top 10 of Franchise Score through week 12
What Is Franchise Score?
Franchise Score points are earned based on the player card NFTs a user holds, with multipliers being given for higher rarity cards.
The multipliers are as follows:
- CORE: 1% boost
- RARE: 2% boost
- ELITE: 3% boost
- LEGENDARY: 4% boost
- REIGNMAKER: 5% boost
Users can also earn up to a 5 percent boost for holding a Field Pass NFT.
Lastly, bonus points may be rewarded for completing missions given throughout the season.
Will Player Cards Have Utility in Future Seasons?
While you won't be able to enter typical 2023 contests using 2022 cards, DraftKings has outlined how cards will be utilized in future seasons:
- There will be occasional no-fee contests in 2023 that will allow entry using 2022 cards
- Cards from past seasons will still count towards Franchise Score
- There will be Missions and Achievements that focus on cards from previous seasons
- Holders will be able to "burn" older cards for "certain upgrades or benefits"