The International Olympic Committee (IOC) and video game developer nWay are launching a collection of non-fungible tokens that represent official, collectible Olympic pins. The new digital assets are being released as part of nWay’s licensing agreement with the IOC and they recall the way pins began as a way to identify athletes, judges and officials. The tradition of pin collecting expanded to event staff, journalists and spectators and these digital assets help to usher in a new era of collectibles.
The officially licensed set of NFT Olympic Pins launching on June 17th recreate a part of the IOC's Olympic Heritage Collection. In preparation for the 2022 Winter Olympics in Bejing, there will also be a game that gives players the chance to earn the NFT assets through play.
What's Driving This Trend
- NFT Collectibles
- The release of official Olympic pins as NFTs presents an opportunity for businesses to explore the creation and distribution of NFT collectibles.
- Digital Memorabilia
- The trend towards digital memorabilia can be seen with the release of these NFT Olympic Pins opening up opportunities for businesses to create unique digital collectibles for fans, communities and individuals alike.
- Gamified Nfts
- The game where players can earn NFT assets provides an opportunity to explore the use of gamification in the creation and distribution of NFT collectibles.
Who This Affects Most
- Sports Merchandising
- As official collectible Olympic pins are made available digitally as NFTs, the sports merchandising industry can explore new and innovative ways to create and distribute digital sports memorabilia.
- Gaming
- The gamification of NFTs for players to earn Olympic pin NFT assets presents an opportunity to explore the potential of NFTs in gaming and foster greater engagement with gaming communities.
- Blockchain Services
- The release of official Olympic pin NFTs highlights the importance of blockchain services in the creation, distribution, and authentication of digital assets.
