The International Olympic Committee (IOC) and nWay, a subsidiary of Animoca, jointly launched a NFT (Non-fungible token) badge for the Olympic Games collection. The announcement issued by nWay today stated that nWay has reached a consensus with the International Olympic Committee on the “new Olympic-themed digital entertainment experience”.

NFT迎来新玩家,国际奥委会即将推出NFT奥林匹克徽章

Timo Lumme told businesswire, “The Olympic badge was first used to identify athletes, referees and officials, but after 125 years of history, the Olympic badge has become a tradition. The issuance of the NFT badge today is the result of natural development. “The NFT badge launched this time represents the inheritance of the Olympic spirit, and includes dozens of meetings from the Athens Olympics in 1896 to the Sochi Winter Olympics in 2014. Taehoom Kim, CEO of nWay, praised that “From a collector’s point of view, these NFT collections have profound collections and historical significance.”

From June 17, 2021, the NFT Olympic badge will be officially launched on nWayPlay.com. Depending on the scarcity of the collection, the price also ranges from $9 to $499. P2P transactions will be launched this year soon, and NFT holders can trade or redeem their digital badges. It is worth noting that the market is built on Flow and shares a blockchain with the mainstream NFT NBA Top Shot.

Affected by the COVID19 epidemic, this year’s 2021 Tokyo Summer Olympics will have a limit on the number of spectators and foreign spectators will be prohibited from participating. In this case, it is impossible to achieve a large number of physical transactions of Olympic badges. Therefore, purely digital NFTs with their own particularities can provide scarcity and clear ownership, just like physical objects.

nWay will also launch a new plan for the 2022 Beijing Winter Olympics, and users can also get free NFT badges by playing nWay’s new games. The game project for the 2024 Paris Olympic Games is currently under development.