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Last week, FanDuel hosted a free fantasy NBA contest with NBA Top Shot NFTs as prizes. Now, the organisation says Decrypt that it was the most successful fantasy contest of 2021 so far, as well as the company’s most popular free-to-play contest that wasn’t centred on a “tentpole event” like the Super Bowl or March Madness.
The daily fantasy sports (DFS) and sports betting operator partnered with Top Shot creator Dapper Labs to offer the contest, FanDuel’s first time offering NFTs as prizes. (FanDuel has twice in the past awarded cryptocurrency as a contest prize.) It saw more than 80,000 entries.
NFTs, or non-fungible tokens, are one-of-a-kind blockchain-based tokens that serve as ownership deeds for digital or tangible objects ranging from art and music to digital playing cards. The NFT “moments” on Top Shot, which runs on the Flow blockchain, are video highlight clips with an opening animation and a serial number to indicate how small the moments are.
Just like with physical trading cards, Top Shot collectors buy packs containing multiple “moments” that can re-sell for thousands of dollars depending on their scarcity. The most expensive Top Shot re-sales have included a LeBron James dunk for $280,000, and a Zion Williamson block that went for $100,000. The NFT marketplace, which doesn’t require users to pay in cryptocurrency, has become so popular in the mainstream that NBA players have been heard saying “Put that on Top Shot” after a big play.
The top five finishers in the FanDuel contest, which included nine NBA games last Thursday, each received a Top Shot “Holo Icon Legendary Pack,” which sold for $999 per pack when the series was minted in February and again in April; the next 10 finishers (Nos. 6-15) received a Rising Stars pack ($199 per pack when the series was last minted in March); and the next 55 finishers (Nos. 16-70) each received a Commo
Top Shot sets were given away for a total of $7,480 on FanDuel. FanDuel plans to market more cryptocurrency prizes this year, according to a business spokesperson.
And FanDuel isn’t the only fantasy sports brand that has gone crypto. Last month, DraftKings organised a fantasy golf contest centred on The Masters, with a reward of a special CryptoPunk NFT worth $70,400. (By NFT criteria, CryptoPunks are old, having been introduced by LarvaLabs in 2017.) That’s ten times the size of the NFT prizes given by FanDuel—but all in one NFT with just one winner.