TL;DR Breakdown
- FanDuel co-founders announce the launching of their Vault
- The new NFT platform is designed to grant NFT access to more fans
- Ukraine Media has partnered with the marketplace for fundraising.
The founders of FanDuel, an American sports betting company, have unveiled a non-fungible token (NFT) Marketplace named Vault. Nigel Eccles with his partner, Rob Jones has launched this innovation to enable NFTs to be easily obtainable by a majority of sports and music fans.
“NFTs are incredible unlock for artists and professional athletes — but the experience sucks for fans.
Artists and pro athletes shouldn’t be forced to choose between their mainstream fans and crypto enthusiasts, so our focus is simple: make NFTs easy to buy and use.” Said Nigel Eccles, the CEO of Vault.
The newly launched NFT platform will allow creators to gather unique content ranging from videos, music, and publication, to VIP invitations. This content is stored in a vault which is only accessed using a key, and each key represents an NFT. Meanwhile, Vault has a mobile application that is available for download on iOS and Android devices.
To achieve their goal of providing easy access to NFTs, the developers of Vault introduced easy methods of making purchases. Those who patronize the platform will be able to make payments with Solana tokens by connecting their Phantom wallet to the marketplace. Also, in-app purchases are made using Apple pay or a credit card. In addition, this NFT marketplace accepts fiat currencies as a form of payment through PayPal enabled by the Solana Network.
FanDuel Vault to assist Ukraine media with fundraising.
Earlier in March, three Ukrainian news outlets – Ukrainska Pravda, Novoye Vremya, and Hromadske – and Vault formed a partnership to kickstart a fundraiser to back Ukrainian efforts in the Russian-Ukrainian war. This project was named “Keys for Kyiv: Support Ukraine Media”.
This fundraising project entails trading off 10,000 NFT Keys. Each key will allow the owner access to a vault containing information on the war. This includes images, videos, and publications all related to the struggle in Ukraine. Each key is valued at $99.99 with a target of raising about $1,000,000. The money generated via the fundraising campaign will be disbursed to assist the media in covering the conflict in Eastern Europe more effectively.
“We built VAULT first and foremost to support creators, and I can think of no better way to serve that mission than by activating our platform and our community in full support of these organizations’ efforts to fight the information war in Ukraine”. said Nigel Eccles. This will mark the first time non-funnel-fungible will be applied to grant access to news. More information on this can be found here.
