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The IOC is releasing Olympic pins like NFTs

With an ancient site like the Olympics, it has established traditions along the way. One of them is picking up a pin. Every two years, people from all over the world come to the Olympic city to buy and sell the souvenir pins that everyone brings out for their sport. But it is Japan not allowing foreign visitors to come and watch the Summer Olympics, fans will not have the opportunity to do so in 2021. As a result, such as Topps and MLB, The International Olympic Committee is turning to NFTs (non-perishable tokens) to provide collectors with the best products.

Working with the IOC, the video game developer nWay has released the Certified NFT Olympic Pins pins on June 17. He resumes part of the IOC’s Olympic Heritage Collection, commemorating games like the 1896 Summer Olympics in Athens. According to USA Todaythe pins will come with digital packets that will cost between $ 9 and $ 499, depending on the availability of integrated NFTs. At the end of the year, the studio allows fans to buy and sell pins on its page. And ahead of the 2022 Winter Olympics in Bejing, it will offer a game that will give people the opportunity to participate in the sport.

If the IOC expects to reimburse the NFT craze, it may already be too late. According to a recent study by PicturesThe market for non-perishable tokens fell last month. Following the May 3 peak that saw NFT sales of $ 102 million in one day, there has been only $ 19.4 million in sales over the past week. According to the website, the number of working wallets has also dropped, from 12,000 to more than 3,900.

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