nWay, a subsidiary of Animoca Brands, today launched nWayPlay.com, the home of officially licensed Olympic non-fungible token (NFT) Pins. Collectors can purchase assorted boxes of NFT Olympic Pins on nWayPlay.com starting June 22, with the peer-to-peer transaction functionality on the marketplace to come online on June 29.
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nWayPlay.com is a new decentralized marketplace for collectors and gamers to buy, sell, and play-to-earn various NFTs with officially licensed IPs. The marketplace will be connected to various games on nWayPlay’s platform – including the real-time Olympic-themed competitive video game to be launched in the lead up to the Olympic Winter Games in Beijing 2022 – and powered by the Flow blockchain, which offers a unique combination of scalability, usability, and environmentally sustainable features.
Flow is a Proof of Stake (PoS) blockchain that does not consume large amounts of electricity that Proof of Work (PoW) blockchains, such as Ethereum and Bitcoin, consume.
Unlike Ethereum-based NFTs that deter purchases of lower-priced NFTs due to high gas fees, the Flow-based marketplace will support a low transaction fee and wider spectrum of prices, allowing more mainstream fans and collectors to participate.
The NFT Olympic Pins are part of the Olympic Heritage Collection, which celebrates the art and design of the past Olympic Games and reflects the graphic legacy of the world’s largest sporting event, such as posters, emblems, pictograms, and mascots from 125 years of modern Olympic Games.
The NFT Olympic Pins are digital versions of collectible and tradeable Olympic Pins, which will have various properties generally associated with physical pins, including authenticity, scarcity, and provenance, making them true collectors’ items.
“Today marks the beginning of a new Olympic-themed digital entertainment experience consisting of NFT Olympic pins and crossplay multiplayer video games that we are developing as part of our new licensing agreement with the International Olympic Committee,” said Taehoon Kim, CEO of nWay. “We built nWayPlay on the Flow blockchain, the same platform used by NBA Top Shot, because its energy consumption associated with NFTs is dramatically lower than Proof of Work-driven alternatives.”
Collectors can obtain unique and officially licensed NFT Olympic Pins in three ways:
- by purchasing assorted boxes on nWayPlay.com
- by purchasing specific pins directly from other collectors on the nWayPlay Marketplace
- by earning them free of charge by playing a real-time Olympic-themed competitive video game connected to nWayPlay and to be launched in the lead-up to the 2022 Olympic Winter Games in Beijing.