Exchange to drop NFTs for each S.Korean medal at Olympics

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Bithumb, one of South Korea’s largest cryp­tocur­ren­cy exchanges, says it will dis­trib­ute dig­i­tal art non-fun­gi­ble tokens (NFTs) for traders who meet the cri­te­ria every time South Korea wins a medal at the Bei­jing Win­ter Olympics.

Fast facts

  • Held joint­ly with blockchain-based sports con­tent plat­form 300FIT, the NFTs will be acces­si­ble to traders who have trans­act­ed more than 1 mil­lion Kore­an won (US$835) worth of FIT.
  • The NFT offer­ings will run for 24 hours start­ing at mid­night the day after a Kore­an ath­lete wins a medal in the games.
  • Bithumb will ran­dom­ly dis­trib­ute 10 reg­u­lar and one spe­cial dig­i­tal art NFT of the win­ning South Kore­an Olympic medalist.
  • Sports has been a key indus­try for the main­stream push of cryp­tocur­ren­cies, with sport­ing fan tokens record­ing dou­ble that of NFTs in total sales to date, accord­ing to Cryp­toSlam data
  • Bithumb said it will con­tin­ue to work toward cre­at­ing syn­er­gy between dig­i­tal assets and sports.
  • South Korea cur­rent­ly has no medals at the Bei­jing Olympics, which are sched­uled to end on Feb. 20.

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