Paris 2024 Olympic Mascot NFT, to be issued on Base
As the 2024 Summer Olympics in Paris approaches, digital badge NFTs have gone live on Base to celebrate the event. The news was announced by nWay, a subsidiary of Animoca Brands focused on the Web3 industry and announced through My Olympic™ Rewards and Coinbase’s Onchain Summer event.
Image source: nWay 2024 Paris Olympic Mascot NFT
These NFTs, launched by nWay, represent the Paris 2024 mascot digital badges and are designed to capture the playful spirit and energy of the Games in the form of digital collectibles. These NFTs come in two designs and two rarity levels: Epic and Legendary. The first design shows the Paris 2024 mascot waving, and the second design shows the mascot holding a flag. These NFTs can be applied for through Coinbase's Onchain Summer event starting from July 9th. The application deadline is August 12th. Users need to go to the Magic Eden platform to redeem.
Why choose Base distribution?
Base is an Ethereum Layer2 designed and created by Coinbase to make asset transfers simpler and more economical. Users can apply for and redeem NFT through the encryption wallet supported by Base. Onchain Summer is an event launched by Coinbase last year to invite creators to publish their projects on Base. This initiative allows creators to get paid directly from backers with virtually no fees, have full ownership of their original digital creations, and build a direct relationship with the community.
Jesse Pollak, creator of Base, said: “We are very excited about the release of the Paris 2024 Olympic Games mascot NFT digital badge. This release not only showcases a part of Olympic history, but also demonstrates Onchain technology’s ability to connect brands more closely with fans. potential."
Animoca Brands subsidiary nWay technology assists Olympics
nWay is a subsidiary of Animoca Brands, a leading publisher and developer of multi-platform games. The company has extensive experience delivering 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 》.
Source: nWay nWay currently displays four games launched on its official website
nWay's team of developers and senior executives have decades of experience in the gaming industry, which they apply to create innovative Web3 gaming products, including assisting with the issuance of NFTs for the 2020 Tokyo Olympics in the past. This cooperation with the Olympic Games again will undoubtedly further consolidate nWay’s leadership position in the digital asset industry.
Image source: 2020 Tokyo Olympics mascot NFT held by the editor-in-chief of "Crypto City" Crypto City
Is Animoca Brands successful in investing in digital assets? 72% growth in first quarter
Additionally, Animoca Brands reported 72% annual growth in its first-quarter 2024 investor update. The company reported bookings revenue of $90 million in the first quarter of 2024, compared with $52 million in the same period last year.
Amid this growth, Animoca Brands generated $65 million in revenue from its digital asset advisory services such as token advisory, trading and blockchain node operations. Web3 affiliates and startup partnerships added $19 million, while investment management contributed $6 million.
The company also performed well financially, cutting operating expenses by 14%. Additionally, cash and stablecoin assets grew significantly by 66% from $175 million at the end of December 2023 to $291 million on March 31, 2024. This was primarily due to gains from tokens held by The Sandbox, a subsidiary of Animoca Brands.
Animoca Brands’ strong first quarter performance and upcoming Olympic NFT launch demonstrate the company’s strong growth and innovation capabilities in the digital asset industry. With the 2024 Paris Olympics approaching, the future is certainly brighter for Animoca Brands.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
