On August 8, Caitlyn Jenner made waves by launching a groundbreaking auction for her 1976 Olympic gold medal, using the MEDAL token. This innovative initiative has quickly garnered attention within the crypto community, highlighted in a popular X space hosted by Mario Nawfal.
Jenner’s team has developed a custom platform for the auction, utilizing the Base chain to enable fractional ownership of this iconic sports artifact. Jenner aims to seamlessly blend physical memorabilia with digital assets, offering anyone the chance to own a digital share of her Olympic gold medal.
The MEDAL Token and Its Importance
The gold medal is being converted into an ERC-721 NFT on the Ethereum Layer-2 network, Base. This NFT will be securely stored in a vault and divided into 100 million tradable ERC-20 MEDAL tokens. Each token is tied to a legally binding contract signed by Caitlyn Jenner, ensuring verifiable ownership through metadata stored on IPFS.
Jenner expressed her enthusiasm, stating, “This is the first time a gold medal has been offered as an NFT, giving people the opportunity to own a piece of history.” This approach not only commemorates Jenner's historic victory but also presents a unique investment opportunity.
Understanding Fractionalization
Ownership of the gold medal is represented by a unique ERC-721 token, which includes verified legal proof of Caitlyn Jenner’s ownership. This token is securely stored in a vault, allowing the medal to be divided into 100 million MEDAL tokens. Fans and investors can thus own a digital piece of Olympic history.
Auction Details
The auction is hosted on Jenner’s custom-built platform, beginning on August 8th at 11:00 AM EST and concluding on August 15th at 11:00 AM EST. Participants can bid for fractional ownership of the gold medal during this period. With no starting price, the value of each MEDAL token could potentially reach hundreds of dollars, making this an enticing investment opportunity.
How to Purchase MEDAL Tokens
1. Visit the Auction Website: Go to https://auction.brucejennerolympicgold.com/
2. Connect Your Wallet: Click "Connect Wallet" in the contribute section and link your Ethereum wallet.
3. Enter the Amount: Specify the amount of ETH-Base you wish to spend on MEDAL tokens.
4. Contribute: Click "Contribute!" to complete your purchase and gain fractional ownership of the 1976 Olympic Gold Medal through your MEDAL tokens.
This auction marks a significant breakthrough at the intersection of sports memorabilia and blockchain technology, offering enthusiasts and investors a new way to own a piece of Olympic history.
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