On Thursday, August 8th, Olympic champion Caitlyn Jenner launched an auction of her 1976 Olympic gold medal on the blockchain, utilizing the MEDAL token.
Jenner's in-house team has crafted a custom launchpad for the MEDAL token auction on the Base chain, allowing individuals to own a digital fraction of Jenner’s iconic gold medal. Jenner conceived this groundbreaking idea before this year's Summer Olympics, aiming to merge physical and digital assets creatively.
"I’ve been involved in this space for almost a year now, always exploring new ways to enhance it," Jenner said. "Here we have a tangible piece of Olympic history, and I wanted to offer a way for people to own a part of it."
Reflecting on her Olympic victory in the decathlon, which took place before her transition to Caitlyn in 2015, Jenner described the overwhelming sense of accomplishment she felt.
"It was my final competition. I knew I was retiring afterward because I had sacrificed so much to get there. The feeling of satisfaction was indescribable," she shared. "I had overcome every challenge, and I literally took on the world—and won. It was incredibly empowering."
The gold medal will be represented by an NFT (ERC-721) on the Ethereum layer-2 network Base, securely stored in a token vault, and divided into tradable ERC-20 tokens called MEDAL, with a total supply of 100,000,000. The ERC-721 smart contract will "map to the verifiable metadata of the legally binding contract signed by Caitlyn Jenner, confirming ownership of the real Olympic gold medal," stored on IPFS.
Jenner emphasized that the rollout will be a “fair launch,” with the official website counting down to Thursday's event.
"There’s no set starting price," Jenner explained. "We’re putting it out there and letting the market decide its value."
"This is the first time a gold medal has been digitally fractionalized into an NFT," Jenner added. "It’s a unique piece of history."
Jenner first entered the cryptocurrency world in May with her JENNER coin on Ethereum, helping to spark the summer’s celebrity meme coin trend. While she mentioned that the gold medal NFT project will involve JENNER token holders, she did not disclose specific details.
"We're not going to overlook the JENNER coin holders. Everyone will hear more on Thursday," she reassured. "I want everyone to benefit from crypto, especially through my coins and initiatives."
Despite the volatile market and the significant drop in value of many celebrity coins, including hers, Jenner remains committed to the crypto space.
"I just want to help people succeed," she said. "I’m here for the long haul."
Jenner also revealed that she will be speaking at the next Bitcoin Conference in Las Vegas in 2025, following her recent appearance at the Nashville event featuring Donald Trump.
"I’m thrilled," she said. "Speaking has been a big part of my life, and I want people to know I’m dedicated to the crypto journey."
How Does Fractionalization Work?
The ownership rights to the gold medal are minted on-chain as a unique ERC-721 token, a non-fungible token containing legal proof of ownership, signed by Caitlyn Jenner. This ERC-721 contract is stored in a token vault, enabling the medal to be fractionalized into 100 million tokens. The vault allows anyone to own a piece of Olympic history.
The auction will be hosted on Jenner’s custom-built platform, running from Thursday, August 8th at 11:00 AM EST to Thursday, August 15th at 11:00 AM EST. During this time, participants can bid to acquire fractional ownership of the Gold Medal through a transparent process on Base (an Ethereum Layer-2 network).
Tokenomics for the fractionalized tokens:
- 55% — Custodian
- 25% — Community/Project Treasury
- 20% — Presale Raise
While there is no initial price set, the potential value is considerable, with some speculating that each token could reach hundreds of dollars.
Caitlyn Jenner's innovative project bridges the gap between physical and digital assets, offering a new way for fans and investors to own a piece of Olympic history.
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