BEIJING: Business partners of the Beijing 2022 Winter Olympic Games have launched non-fungible token (NFT) collections, non-interchangeable digital assets stored on a blockchain, during the Games, a move experts say will boost the popularity of the industry.
China's Alibaba Group, worldwide partner of the International Olympic Committee (IOC), officially released a limited NFT collection of cloud emblems of the Beijing 2022 Winter Olympic Games on Saturday.
The collection features four sports events - short track speed skating, figure skating, freestyle skiing, and snowboard slopestyle. The collections interweave Chinese traditional elements such as ink painting and the yin and yang in their designs. Each of the four designs is limited to 8,888 pieces.
"Each piece has a unique sequence. It is traceable and can be permanently preserved with high collection value. It is hoped the collection can spark people's curiosity to explore the virtual world," Alibaba Group said in a statement on Sunday.
ANTA, a brand that is an official partner of the Chinese Olympic Committee, also released two NFT products regarding the Chinese delegation's clothes at the Beijing Winter Olympics on January 25. Each of the digital collections is limited to 500 pieces.
According to the brand, this is not only an innovative move for a Chinese sports brand to debut an NFT relevant to the Chinese national team, but also a continuous exploration of future consumer experience.
Meanwhile, nWay, a subsidiary of Hong Kong-based game software company and venture capital company Animoca Brands Corporation Ltd, has released an IOC-licensed game to accompany the Winter Olympics underway in Beijing.
The game, Olympic Games Jam: Beijing 2022, is a play-to-earn multiplayer party game where players compete in a series of winter sports to earn Olympic NFT digital pins that can be traded on the nWayPlay digital marketplace.
This game was launched the day before the Olympic Winter Games Beijing 2022 opening ceremony and was developed in collaboration with the IOC.
It features various arcade-styled winter sports, where players can weave their way to the head of the pack in 'Snowboard Cross', pull stylish tricks in 'Slopestyle' and pick up power-ups in 'Skeleton'.
Players will compete against each other in a series of randomised Olympic events until a gold medal winner is crowned. Players can also fully customise their avatars to bring their own personal style to the competition.
Available on Android and iOS, Olympic Games Jam: Beijing 2022 will be free to download as of its launch date, February 3, and will benefit from regular post-launch software updates featuring new content, sports, modes and events to keep the competition fresh and engaging.
“The Olympic Games are the world’s largest sport celebration,” nWay CEO Taehoon Kim said. “We can’t think of a better genre than party games to get everyone across different gaming skills involved for this global celebration in a massive way.
“We have a track record of creating high-quality multiplayer games and making Olympic Games Jam: Beijing 2022 a play-to-earn title is going to let gamers and NFT collectors alike not only engage with the Olympic Games, but also own a piece of Olympic history.
“We intend to support the game with continuous updates in the months to come, to keep the players engaged, and keep the Olympic spirit going.”
Collectors of Olympic NFT digital pins can obtain them by earning them in-game, purchasing them from nWayPlay or trading them with other collectors.
Pin owners can gain exclusive access to higher tiers of play, featuring greater rewards and exclusive character skins.
NFT collectors recognise the value of Olympic NFT digital pins for their historical significance and designs.
With the launch of this game, the size of the pin collector community is tipped to increase, with players able to earn pins in addition to purchasing them from box drops or from other collectors in the marketplace.