Crypto at the Olympics: NFTs Spread, Bitcoin Steered, and CBDC Controversy

Bitcoin & NFTs are everywhere in the Olympics; especially in 2022. Having said that, China’s CBDC is in the middle of a contentious climb. The 2022 Winter Olympics; also known as the XXIV Olympic Winter Games, began on Feb. 4 in Beijing. Crypto is considered to be the most relevant of the event, moderately, because of the Chinese government’s digital currency schemes. Cryptocurrencies weren’t dominant in the Olympics sector over the last few decades. The significant headlines were related to the Dogecoin (DOGE) community. This helped in funding the Jamaican bobsled team in 2014 & they were able to participate in Sochi. NFTs at the Olympics China’s CBDC is emerging in the news headlines. Yet, NFTs are presently captivating fans and art lovers. Many NFT projects have been able to grab fans’ attention to the Olympics. A remarkable enterprise arose from the International Olympic Committee (IOC). This initiative collaborated with NFT marketplace and game studio nWayPlay thereby launching the Olympic Heritage Collection of Olympic NFT pins. The launched Olympic NFT pins are algorithmic versions of physical collectible and tradable pins. They acknowledge the past Olympic Games via posters, emblems, pictograms, etc., from the last 125 years. China’s Digital Yuan Controversy The 2022 Winter Olympics were supposed to be a sort of coming-out party for the Digital Yuan, China’s CBDC. The digital currency now can be pre-owned via the gover...