On February 5, Chinese tech giant Alibaba launched a limited collection of non-fungible tokens (NFTs) to pay tribute to the 2022 Beijing Winter Olympics.
According to an Alibaba press release, the digital NFT Alibaba Cloud Pins will be offered exclusively to members of 88VIP, the company’s paid customer-loyalty program that gives members exclusive privileges in travel, entertainment, daily life, and more.
A promotional poster for Alibaba’s Olympic NFT pins
Drawing inspiration from the excitement and intensity of the Olympic Games, the pins are designed in the style of traditional Chinese ink painting. They feature four Olympic sports: short-track speed skating, slopestyle skiing, aerial skiing, and figure skating.
The four NFT designs are limited to 8,888 copies each and feature a short animation of their respective sports. The artwork “shows the excellence of athletes on the court, and conveys the spirit of continuous transcendence,” says the press release.
The NFT pin for slopestyle skiing
In addition to the traditional ink painting style in the design, other Chinese elements are incorporated in the pins, including the yin and yang symbol, seal carving, and the Great Wall.
88VIP members can acquire the NFTs by logging onto Taobao or Tmall, with the option of redeeming Tmall points for the virtual art.
The first release happened on February 5, and subsequent releases will take place on February 10, 14, and 19 at 10 PM, keeping pace with the finals for the corresponding sports at the Beijing Olympics.
A promotional poster for Alibaba’s Olympic pins
“The NFT has several characteristics: scarcity, permanent preservation, and traceability. Alibaba hopes that the NFT Alibaba Cloud Pin series dedicated to Beijing 2022 can leave customers with an exclusive memory [of the event] in the digital world,” reads the press release.
During the Tokyo Olympics in 2021, Alibaba released commemorative cloud pins as a gift for registered media partners at the Games. While exchanging pins is a longstanding tradition at the Olympics, Alibaba claims these were “the first digital pins in the history of the Olympic Games.”
Similarly, the new NFT pins will be the first digital gift offered by the company to its premium customers.
To redeem the pins, 88VIP customers can sign into ecommerce platforms Taobao or Tmall and enter the 88VIP member center, or search the term ‘Cheers for Team China’ to get to the campaign page. From there, you can learn more about the campaign and choose from the selection of NFTs.
The pin for figure skating
Alibaba has been in partnership with the International Olympic Committee since early 2017. Aligning with China’s vision for a tech-forward Olympics, the company assisted with the integration of technology like cloud computing, ecommerce platforms, and a smart ticketing system.
Unfortunately for Olympic pin collectors outside China, Alibaba’s NFT pins are only available to those with a Chinese ID card, according to a source with the company. They are also different from other NFTs released globally in that they cannot be sold or traded by the original owner.
In addition to Alibaba’s release of NFTs, the International Olympics Committee has reportedly released its own Games-themed NFT pins, which gamers can win by participating in the committee’s officially licensed mobile play-to-earn multiplayer party game.
All images via Alibaba
