Sports gambling company Draftkings is closing its non-fungible token (NFT) business “with immediate effect,” the company said in an email to customers, ending a high-flying crossover between digital collectibles and sports culture.
“After careful consideration, DraftKings has decided to terminate Reignmakers and our NFT Marketplace effective immediately due to recent legal developments. This decision was not made lightly and we believe it is the right thing to do,” the email said.
Weeks ago, a federal judge allowed a class action lawsuit against DraftKings to proceed after finding that the plaintiffs “plausibly alleged” that DraftKings’ NFTs were unregistered securities, according to Westlaw.
This is a developing story and will be updated.
