(Bloomberg) -- The Olympics is joining the ranks of sports groups hoping to convince fans to splash out on non-fungible tokens.
The International Olympic Committee plans to sell “digital versions of collectible and tradeable Olympic pins” of famous posters and mascots, according to a statement.
NFTs are a kind of digital art that uses the same technology as cryptocurrencies to prove ownership. It's a business idea that's boomed in the world of sports, with NBA's Top Shot allowing people to purchase big game moments as NFTs.
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NFTs are also gaining popularity with artists, organizations and auction houses. In March, a Singapore-based investor paid $69.3 million worth of digital art at an auction by Christie's.
Organizers are stepping up preparations for the Summer Olympics, which are set to begin next month in Tokyo. There's still a debate about it's safe to hold the games during the pandemic.
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