2020 Tokyo Olympic Welcomes Bitcoin & Launches First-ever NFTs

The Olympic has officially entered the world of NFTs hoping to reconnect fans worldwide amid the pandemic.

2020 Tokyo Olympic Welcomes Bitcoin & Launches First-ever NFTs

2020 Tokyo Olympics has finally come to a close on the 8th of August as the Olympic torch goes out and the fireworks illuminate the night sky. 

The Tokyo Olympics may be the first-ever Olympics in history with no fans or spectators, however, that doesn’t stop people from tuning in to the game and bringing a piece of Olympics home.

Introducing Olympic Pins As NFTs

Due to the unusual circumstances of the pandemic, The International Olympic Committee (IOC) has made it easier for fans to collect Olympic pins by launching NFT Olympic pins and cross-play multiplayer video games. 

Safe to say that if you can’t be in Tokyo physically, you can still experience the Tokyo Olympics thrill — digitally.

Olympic pins are getting a digitally enhanced look. (Image via nWay) 

In collaboration with game developer nWay, fans worldwide can now be connected to the Olympic games without actually being present. 

With NFTs, pin-trading, a popular Olympic tradition that has been around for one hundred years, can be continued online with athletes or fans worldwide trading safely online. 

According to Timo Lumme, Managing Director of IOC Television and Marketing Services:

“Olympic pins started as a way to identify athletes, judges and officials, but over the past 125 years they have become an Olympic Games tradition, where everyone from athletes to event staff, journalists and spectators all take part to collect and trade pins in the Olympic Village and beyond,”

Meanwhile, you can trade and buy NFT Olympic pins on nWay.com, a decentralised peer-to-peer marketplace. nWayPlay is built on the Flow blockchain technology that runs on a proof-of-stake system, which is relatively more environmentally friendly.  

Image via Getty Image

But the IOC isn’t the only smart ones that came out with the idea of making their own NFTs.

One month before the Olympics, the British Olympics team has also released a series of exclusive NFTs, becoming one of the first Olympic teams to launch an online storefront for fans to buy NFT. 

TeamGB, a name used by the British Olympic team will also be putting out new releases every night until the 2022 Beijing Winter Olympics next year. 

Here are some of TeamGB’s limited-edition NFT collections: 

Image via teamgbnft.com

Other than NFT pins, the team also has Olympic-inspired art pieces, murals that capture the

details of the Olympic games and more. Image via teamgbnft.com

So… How Can One Earn Their Very Own NFT Pins? There are three ways:

1) Purchase assorted packs on nWayPlay

You can directly purchase the pins on nWayPlay, which is the official website that sells Olympic-themed NFT pins and a multiplayer video game. For instance, the Epic Box includes seven pins with one Epic, two Rare, and five Commons (please check their official website for more information). 

2) Purchase through nWay’s marketplace from other collectors 

Another way is to buy specific pins directly through nWay’s secondary marketplace which allows you to use a credit card or stablecoins for transactions. 

3) Play the Olympic video game and earn it for free!  

The free Olympic-themed video game that is connected to nWayPlay will be launched before the 2022 Beijing Winter Olympics. There will also be a 2021 Paris Olympic game in the making. That being said, gamers, it’s time to train your fingers!

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