DraftKings (DKNG) NFL Players Now Available on Deadfellaz

Zacks Equity Research

21 October 2022 at 12:38 pm·4-min read

DraftKings DKNG recently announced that it has collaborated with Deadfellaz to transform 13 professional football players into limited-edition NFT player cards. Players that will be transformed into Deadfellaz include Nick Chubb, Jalen Hurts, Alvin Kamara, Kyler Murray, Deebo Samuel and Matthew Stafford.

The collectibles, dropping on Oct 25, will be an exciting item to have in any NFT collection and can be playable exclusively in Reignmakers Football contests.

Reignmakers Football is DraftKings’ NFT-based fantasy football-style game where customers can build a collection of NFT player cards and draft a lineup to use in fantasy sports-style games with them.

As part of the collaboration, the collection will feature first-of-its-kind utility, including access to gated Deadfellaz-themed contests and exclusive NFT prizing. Collectors of these limited-edition player cards will also be eligible to compete for a share of the more than $1,000,000 in prizes available in Reignmakers Football contests every week during the professional football season.

Deadfellaz is one of the most well-known web3 brands in pop culture and has a robust following in the sports and entertainment industries. This can expand DraftKings’ presence in the web3 space and aid its user-base growth.

Investment in Web3 to Drive New Experiences for Users

DraftKings has been focusing on its Web3 strategy lately. The use of blockchain and NFT technology are endemic to its core business and can disrupt the sports fan experience and create differentiation for the company that helps separate it from the pack.

DraftKings Inc. Price and Consensus

DraftKings Inc. price-consensus-chart | DraftKings Inc. Quote

Last year, DraftKings signed a multi-year agreement with NFLPA to launch gamified NFT collections, which debuted recently on DraftKings Marketplace during the 2022-2023 NFL season. It now allows Reignmakers Football customers to use their player cards to build a fantasy lineup and compete in no-fee contests for more than $1 million in prizes every week.

DraftKings will also crown a world champion this season at the $1 million Reignmakers Football World Championship live in New Orleans.

The rising demand for digital sports collectibles also made it enter a partnership with an NFT company, Metabilia. It is set to release NFTs featuring some of the youngest Major League Baseball stars as part of the collaboration. The collection includes NFTs of Vladimir Guerrero Jr., Ronald Acuña Jr., Shane Bieber, Wander Franco, Joe Musgrove and Fernando Tatís Jr.

Beyond this, DraftKings has also agreed to terms with the UFC for Reignmakers UFC, featuring officially licensed NFT cards from their active roster. The full Reignmakers UFC game is expected to go live in late fourth-quarter 2022 and is expected to continue the momentum of this new game franchise and boost its top line.

DraftKings has raised its full-year revenue outlook to $2-$2.18 billion from $2.055-$2.175 billion, which implies 64% year-over-year growth.

Zacks Rank and Stocks to Consider

DraftKings currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Consumer Discretionary sector are Dish Network DISH, SP Plus SP and Hyatt Hotels H, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Dish shares have lost 57% year to date. The Zacks Consensus Estimate for fiscal 2022 earnings has risen 0.8% over the past 30 days to $2.56 per share.

SP shares have gained 21.7% year to date. The Zacks Consensus Estimate for fiscal 2022 earnings has been constant at $2.89 per share over the past 30 days.

H shares have declined 11.3% in the same time frame. The estimate for 2022 earnings has been constant at 68 cents per share over the past month.

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DraftKings Inc. Price and Consensus

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