Bitcoin, Dogecoin and NFT Big Deal in Tokyo 2020: How crypto-savvy Olympians can feel at home

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The XXXII Tokyo Summer Olympics are special not only because they take place under such difficult circumstances, but also because they take place when our understanding of the definition of money and assets changes. Here’s why.

Olympians Dig Crypto: As early as 2018, Canadian speed skater Ted-Jan Bloemen became the first Olympic athlete to accept cryptocurrency. Bloemen announced at the time that he was the first athlete to be sponsored by the cryptocurrency industry.

I’m very happy to be the very first #Crypto sponsored athlete. Thank you @CEEK #VirtualReality and @Ong_Social for being at the forefront of technology and this great achievement. Looking forward to a great relationship and exciting times to come. pic.twitter.com/mCHbNzkKW8

– Ted-Jan Bloemen (@TedJan) January 31, 2018

In 2018, the U.S. luge team turned to Bitcoin (CRYPTO: BTC) to fund their Olympic ambitions, according to a report from Time. Former 1980-era Olympian Ty Danco pushed the idea of ​​accepting apex cryptocurrency.

See also: How to buy Bitcoin (BTC)

“They both know everything about speed, accidents, risk management and handling. Maybe that’s why the American Luge Team and Bitcoin are made for each other, ”the team wrote on its website at the time, according to Time.

Symbolic collectibles: Olympic pins have always attracted fans, but although this year fans may not be able to travel to Tokyo to get their hands on these collectibles, the International Olympic Committee has partnered with nWay to launch non-fungible Olympic or NFT themed tokens.

These NFT pins are digital versions of collectible and redeemable Olympic pins, according to an IOC statement.

Timo Lumme, Director General of Television and Marketing Services for the IOC noted that over the past 125 years, collecting pins has become a tradition of the Olympic Games “where everyone from athletes to staff of the event, passing by journalists and spectators, participates to collect and exchange pins in the Olympic Village and beyond. “

Upon releasing the NFT pins, Lumme said, “Now they can connect to the excitement of the Games in a whole new way and own a piece of Olympic history.”

Not only the IOC, but even the athletes jump on the NFT train. Earlier in April, Kenyan Olympic long-distance runner and marathoner Eliud Kipchoge auctioned a set of NFTs for 17.9837 Ethereum (CRYPTO: ETH) or $ 33,592.29 at press time on the Open platform. Sea.

Kipchoge’s token commemorating his record-breaking 2019 run in Vienna, Austria, sold for 14.8837 ETH or $ 27,801.71 at press time on the platform.

Japan – A Cryptocurrency Haven: Japan is one of the most welcoming countries for the acceptance of cryptocurrencies as more Olympic athletes accept cryptocurrencies, the places where Olympians and other gaming associates can spend their BTC, Dogecoin (CRYPTO: DOGE) and other altcoins. On condition that they are authorized to leave the premises.

See also: Ruling party lawmaker in Japan wants country to issue digital currency

Shortly after Bitcoin became a payment method in Japan in 2017, it became possible to make payments at more than 260,000 stores nationwide through a partnership between local company Coincheck and Recruit Lifestyle, according to Bitcoin. com.

As a Tokyo resident, I can walk into one of the biggest electronics retailers in Japan – Biccamera – and pay using BTC. Olympians could do the same and charge anything from Apple Inc (NASDAQ: AAPL) gadgets to gigantic TVs.

Tokyo isn’t really known for being a vegetarian or vegan city, but if you like those options and like BTC, you can head to Dot Raw, a vegan cafe with all-you-can-eat salad and a la carte menu and eat your fill and pay with your BTC wallet.

Mint Hairdresser located in Ebisu offers their services to international clients and they are experienced in dealing with clients from all over the world. The hairdressing salon offers private salons for Muslim women who wish to have their hair done and also offers a prayer area. They accept Bitcoin Cash (CRYPTO: BCH).

See also: Bitcoin vs. Bitcoin Cash: which crypto performed the best in June?

Moreover, lovers of luxury watches can buy timeless watches from Yukizaki. The jeweler accepts the BTC.

Finally, for those who are confined to their rooms at the Olympic Village and wish to shop online, Japanese e-commerce company Rakuten allows their Rakuten Cash balance to be recharged using BTC, BCH and ETH, according to a statement. of the company.

Once the Rakuten Cash balance is topped up with cryptocurrencies, buyers can pay at Rakuten Pay and Rakuten Point Card affiliated businesses across Japan.

Read more: Is the Dogecoin knockoff rally definitely over?

Photo: Courtesy of IOC Media via Flickr

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