DraftKings Inc. stock ($DKNG) launched as a tokenized asset on the Solana blockchain on September 11. Backpack Securities and Sunrise issued the token to enable 24/7 equity trading outside traditional market hours.
The token generated $39 million in trading volume within its first three hours. This activity represented 13.5% of the stock's total Nasdaq trading volume for that day.
Each token follows a 1:1 redemption model backed by real DKNG shares held in a traditional brokerage. Over 9,200 unique wallets held the token by early September 12. The launch highlights a growing trend of tokenizing real-world assets on the Solana network.