NFT welcomes new players, IOC will soon launch NFT Olympic badge

The International Olympic Committee and Animoca’s subsidiary nWay have jointly launched an Olympic collection NFT badge.

NFT welcomes new players, IOC will soon launch NFT Olympic badge

Today’s announcement by nWay indicates that nWay has reached an agreement with the IOC on a “new Olympic-themed digital entertainment experience” component.

Timo Lumme told businesswire, “The Olympic badge was first used to identify athletes, judges and officials, but over 125 years, the Olympic badge has become a tradition. And the release of the NFT badge today is a natural progression.” The NFT badges represent the legacy of the Olympic spirit and include dozens of Olympic Games from Athens in 1896 to the Sochi Winter Games in 2014. nWay CEO Taehoom Kim praised “the NFT collection as being deeply collectible and historically significant from a collector’s perspective. “

The NFT Olympic pins will be available for sale on from June 17, 2021. Prices range from $9 to $499, depending on the rarity of the collectibles. Soon P2P trading will also go live this year, allowing NFT holders to trade or exchange their digital badges. Notably, the marketplace is built on top of Flow, which shares a blockchain with the mainstream NBA Top Shot for NFT.

Due to the COVID19 epidemic, this year’s 2021 Tokyo Summer Olympics will have spectator limits and ban outside spectators from attending. In this case, it is not possible to do a large number of physical transactions of Olympic badges. Therefore purely digital and individually specific NFTs can provide scarcity and clear ownership, just like physical objects.

nWay will also launch a new program for the 2022 Beijing Winter Olympics, where users can also earn free NFT badges by playing nWay’s new game. a game program for the 2024 Paris Olympics is also currently in development.

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