For as little as $25, fantasy football players have a chance to win a CryptoPunk through a daily fantasy contest from Draftkings Inc DKNG.
What Happened: On Sept. 12, DraftKings is hosting its NFL Pass for a Punk daily fantasy contest to kick off week 1 of the National Football League season.
The contest will be open to 6,440 entries and costs $25 to enter. The contest will pay out more than $136,000 in prizes including a Punk to first place, $2,000 to second place, $1,000 to third place, $750 to fourth place, $500 to fifth place, and at least $50 to anyone finishing in the top 25.
The winner of the contest will receive CryptoPunk #5198. The Punk is one of 6039 male Punks and one of 288 with a mustache, one of 441 with a mohawk and one of 527 with regular shades. CryptoPunk #5198 ranks 6187th out of 10,000 Punks for rarity.
DraftKings tweeted out about the contest and said after the tweet, entries in the contest doubled.
“Innovation is in our DNA. So we’re pumped to help you dive into the world of NFTs. Post the top lineup in the NFL Pass for a Punk contest on 9/12 & become the owner of this piece,” DraftKings tweeted with a picture of CryptoPunk #5198.
DraftKings paid 42 Ethereum ETH/USD or around $132,000 when it purchased CryptoPunk #5198. The Punk had last sold in January for 4.98 ETH, or around $5,168.
Why It’s Important: At the time of writing, the cheapest available CryptoPunk was offered for sale at 77.47 Ethereum, or around $242,000.
CrytpoPunks have soared in value and the gains have outpaced both Bitcoin BTC/USD and Ethereum in 2021.
CrytpoPunks had sales volume of $189 million in the last week, $490.8 million in the last four weeks and $910.5 million over their lifetime, according to Larva Labs.
The NFT contest from DraftKings follows a similar one, Putt for a Punk, the company ran in April coinciding the Masters Tournament. The contest offered 1,818 entries for $50 each with the winner taking home CryptoPunk #1871. DraftKings had bought CryptoPunk #1871 for $70,400.
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