What Exactly Is an NFT Pin?
Olympic NFT pins are collectible and tradeable digital pins in a digital format. The firm that created the game, nWayPlay, designed and sells these NFT pins.
How Do You Buy the NFT in the Olympics?
Officially licensed Olympic NFT pin collection is the second large-scale NFT sports collection after the NBA Top Shot, formally endorsed by a large sporting organization. Authorized by International Olympic Committee, the online platform is created by well-known gaming company nWay. Another company, but the same technical background as in NBA Top Shot. The Olympic NFT project is called nWayPlay. nWay is a subsidiary of even a larger gaming corporation Animoca Brands.
nWayPlay is a platform where users will earn NFTs playing various online games, including Olympiad-related. Olympic NFT pins will be the first NFT collection on nWayPlay platform, but there will be more others in months and years to come. If you are not a gamer, do not worry. Users will not necessarily require to play online games to get NFT Olympic pins. All types of NFT collectors are welcome to buy NFT pins in packs, as well as buy/sell them on the built-in online marketplace.
The packs and separate pins will be sold for cash or digital currency. If you invested in some other NFT projects, you probably know that the best way to buy NFTs is using digital currencies. nWayPlay promises to support payments in USD coin, which is, of course, available for people around the world and protects you from credit card surcharges and payment declines. Time is crucial when dealing with NFTs, as popular items are sold quickly. If you already own some digital coins and want to switch them into USD coin (USDC), or you first need to buy USDC for cash, use Binance – the world’s largest digital token exchange, which supports many local currencies.
The Olympic pin NFTs are going to be launched in June 2021, so to learn how to get NFT Olympic pins, you need to visit their website nWayPlay.com, open an account, and follow the prompts: whether you choose to buy common, rare, or legendary packs, or purchase a pin you like from someone else.
Olympic NFT pin project has two significant advantages compared to NBA Top Shot. It has a larger potential collector community (as it is about all Olympic sports, not only basketball), plus the collection will have a very limited number of NFT collectible items, which potentially makes each item more valuable compared to NBA Top Shot moments (constantly added to the pool after NBA matches being played). At the same time, the Olympic NFT pin project will definitely use all the experience gained by the first mover (NBA Top Shot), so collectors may expect smoother NFT trading on this new platform.
This official Olympic Heritage Collection will include Mascot NFT pins, Poster NFT pins, Pictogram NFT pins, and other well-known symbols related to the Olympic Games and the history of Olympiads. As with any rare collectible NFT items, the price is expected to be considerable, especially for legendary items. These Olympic NFT packs are announced at the 9 to 499 US dollar range. Some scarce NFT items are expected to trade for thousands of USD. The developers promise to add NFT export tools so that you can access your collection from other NFT platforms sometime in the future.
nWayPlay uses environmentally sustainable technology, so if you like NFTs but are concerned about the environmental impact of the computer servers that store NFTs, you have one more reason to like this project. NFT digital collectible items only started to boom at the beginning of 2021, but it is already safe to say that people like NFTs, and they are here to stay. More professional sports organizations will issue sport NFTs for their fans, and of course, we will see more NFTs related to Olympic Games. But as nWayPlay Olympic NFT is the first official project, the items are expected to be more valuable than any others, as older collections are usually in great demand.