It’s a special night for Seattle NHL fans. Only feels right to say, “Release the Kraken!”
|
|
|
|
DraftKings/Design: Alex Brooks
|
|
DraftKings is already a major player in one rapidly growing industry, and now it’s entering another: NFTs.
The sports betting platform announced the new vertical Wednesday with a boost of star power. It will partner with Autograph, an NFT company co-founded by NFL legend Tom Brady.
- DraftKings will become Autograph’s exclusive NFT distributor.
- Autograph announced exclusive NFT deals with Tiger Woods, Wayne Gretzky, Derek Jeter, Naomi Osaka, and Tony Hawk on Wednesday. Hawk will join Autograph’s advisory board.
- Autograph is also partnering with Lionsgate and will produce NFTs related to its entertainment properties, such as “John Wick” and “Hunger Games.”
The vertical will exist in parallel with DraftKings’ sports betting and fantasy offerings, and users will be able to buy and sell NFTs with funds in their existing accounts.
The marketplace could help DraftKings increase its revenue per unique user, which was $61 per month in Q1.
DraftKings went public via a SPAC merger in April of last year. Its stock shot up 6% with the Autograph news, closing at $48.88 on the day.
Editor’s Note: DraftKings is an FOS partner.
|
|
|
|
|
Virtually Human Studio, the developer behind blockchain-based digital horse racing game Zed Run, raised $20 million in Series A funding.
The round was led by private equity firm The Chernin Group, and also included Andreessen Horowitz and Red Beard Ventures.
Launched in 2019, Zed Run is structured so consumers not only collect NFTs but also use them to compete. Users purchase, breed, auction, and race digital horses.
More than $30 million worth of racehorse NFTs have been sold to date.
- Prices of the digital racehorses range from $130 to $45,000.
- Free races are available, but users can pay up to $100 to enter races.
- The platform has more than 14,000 unique stable owners.
Between early May and July 20, monthly NFT sales declined 42% to $188 million, per The Wall Street Journal.
Despite the drop, NFTs are still a hot commodity.
Earlier this week, OpenSea, an NFT auction platform made famous by Beeple’s $69 million sale, raised $100 million at a $1.5 billion valuation. The round was led by Andreessen and included Kevin Durant, Ashton Kutcher, and Creative Artists Agency.
|
|
|
|
|
Jerome Miron-USA TODAY Sports/Design: Alex Brooks
|
|
Formula 1 driver Lewis Hamilton and U.S. gold medalist Shawn Johnson are among the high-profile individuals investing in nutritional powder maker Athletic Greens.
The investment was led by private equity firm SC.Holdings and included other big names like actor Hugh Jackman, model Cindy Crawford, and musician Steve Aoki.
Financial terms were not disclosed, but Athletic Greens says it has a $100 million revenue run-rate. The company’s 30-serving powder package sells for $97 or $77 with a monthly subscription.
The new investment marks Athletic Greens’ first raise with strategic outside investors, but the company has been partnering with noteworthy entities for a while.
- Last month, it announced a partnership with WRKOUT, a virtual personal training platform.
- In 2020, it became the first-ever supplement sponsor of the USA Cycling team.
- It became an official partner of Spartan Race in 2018.
Gainful, another sports nutrition supplements company, raised $7.5 million in Series A funding in January.
The overall global health and wellness category is expected to reach $7 trillion in annual revenue by 2024.
Editor’s Note: SC.Holdings is an investor in FOS and Athletic Greens is an FOS partner.
|
|
|
|
- Sources tell FOS that ESPN’s Malika Andrews is viewed as a strong candidate to succeed departing Maria Taylor as host of “NBA Countdown.” For more on that story, click here.
- MGM Resorts revealed plans for a $9 billion casino in Osaka, reviving efforts to open Japan’s first casino gambling facility after pandemic-related delays.
- Coca-Cola’s second-quarter earnings beat Wall Street’s predictions, reporting $10.13 billion in revenue vs. the $9.32 billion expected. The hydration, sports, coffee, and tea segment saw volume growth of 25%.
- Alex Rodriguez is backing online brokerage startup Tornado. Other investors in the $10 million early-stage funding round include Dave Portnoy of Barstool Sports and Tony Florence from VC firm New Enterprise Associates.
|
|
|
U.S. stocks experienced gains across all three major indexes on Wednesday. Here’s a look at how sports-related stocks performed:
Up:
Big 5 Sporting Goods Corporation (NASDAQ: BGFV) gained 9.80%
DraftKings Inc. (NASDAQ: DKNG) gained 6.68%
Boyd Gaming Corporation (NYSE: ATVI) gained 5.72%
Down:
Rogers Communications Inc. (NYSE: RCI) dropped 2.90%
GameStop Corp. (NYSE: GME) dropped 2.81%
Formula One Group (NYSE: FWONA) dropped 1.43%
(Note: All as of market close on 7/21/21)
|
|
|
The St. Louis Cardinals (47-48) host the Chicago Cubs (47-48) tonight at Busch Stadium. The Cubs beat the Cardinals 7-6 in a stunning comeback on Tuesday.
How to Watch:
8:15 p.m. ET on ESPN
Betting Odds:
Cardinals -1.5 || ML -130 || O/U 8*
Pick: Expect the Cubs to build on last night’s performance. Take Chicago to cover.
Who ya got? Reply to this newsletter with your prediction for the Cubs-Cardinals winner, final score, and home run hitter(s). Nail it, and you get a mention in Thursday’s FOS PM edition. Don’t forget to include your Twitter handle.
Shoutout: On Tuesday, we asked readers to make predictions for Suns-Bucks. The Bucks beat the Suns 105-98 to win the 2021 NBA Finals. FOS readers Jonathan Chang and Seth Kreger predicted Milwaukee’s monumental win.
*Odds/lines subject to change. T&Cs apply. See draftkings.com/sportsbook for details.
|
|
|
Want to win an Old Hickory bat with your name engraved in it? Refer your friends and colleagues to Front Office Sports and you could! One referral = one entry.
It’s easy to spread the word. Copy and paste your unique link below and share it in an email or on your timeline.
Your custom referral link: [RH_REFLINK]
Or use these one-tap sharing methods:
Email // Twitter // Facebook
|
|
|
