Lambda256, the blockchain arm of the fintech firm Dunamu that operates the cryptocurrency exchange Upbit, announced that it has partnered with nWay to launch an airdrop of the official Olympic Heritage NFT digital pins, licensed by the International Olympic Committee (IOC) to nWay, on its Luniverse sidechain.
Beginning Tuesday, August 10th at 6:00 pm KST (5:00 a.m. ET/ 3:00 a.m. PT), 2021 airdrops of the Olympic Heritage NFT digital pins will be available on Upbit.com in celebration of the Olympic Games Tokyo 2020. The pins will be a digital memento of the art and design of past Olympic Games, featuring posters, emblems, pictograms and mascots from its 125-year history. Upbit plans to roll out additional Olympic NFT digital pins on its marketplace in the coming months in partnership with nWay, which has developed the pins as part of a licensing agreement with the IOC. For NFT collectors interested in accessing more Olympic NFT digital pins beyond the airdrop, they are available for sale on nWayPlay.com
While collecting and trading pins have been a time-honored tradition at the Olympic Games since the first 1896 Games in Athens, this marks new history for fans as this is the first to be offered digitally. The NFT digital pins will reflect the collectible and tradeable nature of its physical counterparts, but with characteristics unique to NFTs that verify digital authenticity and provenance.
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“Trading collectible Olympic digital pins in the form of NFTs brings some of the best traditions digitally to life,” said Jaehyun Park, CEO of Lambda256, the blockchain subsidiary of Upbit-Dunamu. “By digitizing a centuries-old tradition of Olympic Pin trading on our Luniverse ‘Green NFT’ sidechain, we’re also mitigating carbon footprint and addressing the core sustainability issues associated with trading NFTs.”
“We are excited to partner with Lambda256 to introduce these unique NFTs to customers of Upbit to celebrate the Olympic Games,” said Taehoon Kim, founder and CEO of nWay. “In the coming months, we hope to deliver more touchpoints for digital engagement through the Olympic NFT digital pins, which encompasses creativity and innovation uniquely attributed to NFTs.”
The blockchain arm of Upbit operator Dunamu, Lambda256 is the signatory of the Crypto Climate Accord, a global green initiative committed to achieving net-zero emissions for all blockchain operations by 2030. The company has pledged to focus on decarbonizing the industry, in line with the UN’s Framework Convention on Climate Change. It has most recently launched a Green NFT marketplace on its Luniverse chain, which produces 99.99% less energy than that of energy-intensive systems like Ethereum.
