2024 Paris Olympics Mascot NFT to be Released on Base
As the 2024 Paris Summer Olympics draw near, digital badges known as NFTs have been launched on Base to celebrate this grand event. The announcement was made by nWay, a subsidiary of Animoca Brands that focuses on the Web3 industry and is conducting the release through My Olympic™ Rewards and Coinbase’s Onchain Summer event.
These NFTs introduced by nWay represent the mascot digital badges for the 2024 Paris Olympics, aiming to capture the spirit and vitality of the Olympics in the form of digital collectibles. There are two designs and two rarity levels for these NFTs: Epic and Legendary. The first design features the waving image of the Paris 2024 mascot, while the second design shows the mascot holding a flag. These NFTs can be applied for starting from July 9th through Coinbase’s Onchain Summer event, with the application deadline being August 12th. Users need to go to the Magic Eden platform for redemption.
Why choose Base for the release?
Base is an Ethereum Layer2 designed and created by Coinbase to simplify and make asset transfers more economical. Users can apply for and redeem NFTs through Base-supported crypto wallets. Onchain Summer is an event launched by Coinbase last year, inviting creators to release their projects on Base. This event allows creators to receive rewards directly from supporters in a nearly fee-less manner, have full ownership of their original digital works, and establish a direct relationship with the community.
Jesse Pollak, the creator of Base, said, “We are very excited about the release of the Paris 2024 Olympics mascot NFT digital badges. This release not only showcases a part of Olympic history but also demonstrates the potential of Onchain technology to bring brands closer to their fans.”
nWay’s tech assistance for the Olympics
nWay is a subsidiary of Animoca Brands, a leading publisher and developer of multi-platform games. The company has extensive experience in providing AAA mobile and console games such as Wreck League, Power Rangers: Battle for the Grid, Power Rangers: Legacy Wars, Olympic Games Jam: Beijing 2022, and ChronoBlade.
The developers and senior executives at nWay have decades of experience in the gaming industry, which they apply to create innovative Web3 game products. They have previously assisted in releasing NFTs for the 2020 Tokyo Olympics. This collaboration with the Olympics further solidifies nWay’s leadership position in the digital asset industry.
Animoca Brands’ successful investment in digital assets? 72% growth in the first quarter
In addition, Animoca Brands’ investor update report for the first quarter of 2024 showed an annual growth rate of 72%. The company reported that the first-quarter pre-order revenue for 2024 was $90 million, compared to $52 million in the same period last year.
Within this growth, Animoca Brands’ digital asset advisory services (such as token consulting, trading, and blockchain node operations) generated $65 million in revenue. Collaborations with Web3 subsidiaries and startups contributed $19 million, while investment management contributed $6 million.
The company’s financial performance has also been impressive, with operating expenses reduced by 14%.
Furthermore, cash and stablecoin assets increased by 66%, from $175 million at the end of December 2023 to $291 million on March 31, 2024, primarily due to token earnings held by Animoca Brands’ subsidiary, The Sandbox.
The strong performance in the first quarter and the upcoming release of Olympic NFTs indicate Animoca Brands’ robust growth and innovation in the digital asset industry. With the 2024 Paris Olympics approaching, the development prospects for Animoca Brands undoubtedly look brighter.
This article was originally published in Crypto City.
