As the Beijing Winter Olympics wraps up, the craze for acquiring a Bing Dwen Dwen, the panda mascot for the games, has persisted, now expanding into the digital art market supported by blockchain technology.
On Friday, a San Francisco-based mobile-game company called nWayPlay rolled out its second batch of 200 Legendary Box packages containing the digital pins to several non-fungible tokens (NFTs) featuring images of the mascot. The panda-themed NFTs are authorized by the International Olympics Committee.
The NFTs are non-interchangeable units of data stored on a blockchain to offer public certificates of authenticity or ownership of digital artworks. The blockchain technology features an immutable data record that can be used and shared within a decentralized and publicly accessible network.
Each Legendary Box is officially priced 349 US dollars, much more expensive than a stuffed toy figurine, which sells for about 30 dollars. However, the digital pins were sold out only three days after their launch.
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