After launching her personal token in Could, media character Caitlyn Jenner is ready to debut a brand new crypto venture across the Olympic gold medal she gained 48 years in the past.
Set for Thursday, the launch will supply traders an opportunity to personal a digital piece of Jenner’s 1976 Olympic gold medal through fractionalization. Jenner advised Decrypt that she received the thought earlier than this 12 months’s Summer season Olympics and wished to method it creatively together with her group.
“Effectively, I’ve been on this house for nearly a 12 months now, and I am consistently new ways in which I will help enhance this house,” she mentioned. “And right here we’ve a real-world asset that’s a part of the Olympics and a part of historical past.”
Jenner recalled the euphoric feeling of successful the Olympic decathlon as Bruce Jenner, earlier than her transition to Caitlyn in 2015.
Jenner’s Olympic medal (left) and the illustrated interpretation used for the coin. Picture: Caitlyn Jenner
“It was my final meet. I knew I used to be retiring after that was over with, as a result of I had to surrender an excessive amount of to be there. And it was simply an absolute feeling of satisfaction,” she mentioned. “It simply put a smile on my face. I climbed each mountain, I overcame each impediment, and I used to be in a position to tackle the world. And I gained, bodily took on the world. It was a really highly effective feeling.”
That gold medal shall be represented by an NFT (ERC-721) on Ethereum layer-2 community Base, which is saved in a safe token vault and fractionalized right into a tradable ERC-20 token referred to as MEDAL with a provide of 100,000,000. In keeping with Jenner’s group, the ERC-721 sensible contract “maps to the provable metadata of the legally binding contract signed by Caitlyn Jenner displaying possession of the actual Olympic gold medal,” which is saved on IPFS.
The rollout shall be a “honest launch,” Jenner mentioned, with the official web site at present counting right down to Thursday.
“There is no beginning value,” Jenner advised Decrypt. “We’re simply gonna put it on the market and see what occurs, and let the market determine.”
Jenner with the medal in 1976. Picture: Caitlyn Jenner
Whereas the token is impressed by the gold medal, possession of MEDAL conveys no rights to the bodily merchandise, which is held by Jenner. “The 1976 Medal tokens symbolize a fractional share within the worth of the 1976 Gold Olympics medal and never bodily possession of the medal,” the venture’s web site notes.
Jenner pointed to the challenges dealing with the crypto business, together with authorities scrutiny and the financial downturn, as inspiration for launching the venture. She believes that the gold medal venture provides a chance to convey optimistic consideration to the house.
“There’s by no means been an NFT of a gold medal digitally put on the market so that you can get entangled with,” Jenner mentioned. “It’s a part of historical past.”
Jenner made her first foray into the crypto business in Could with the launch of her JENNER coin on Solana and later Ethereum, serving to to kickstart this summer time’s movie star meme coin pattern. She mentioned that the gold medal NFT venture will contain JENNER token holders in some respect, however wouldn’t get into particulars about it.
“We’re not going to let down all of the JENNER coin holders by any means. The final persons are going to listen to lots about it on Thursday,” she mentioned. “We’re not leaving the JENNER coin individuals behind. I would like everyone to be a winner in terms of crypto, and particularly concerned with my cash and what I am doing.”
Jenner pointed to her coin—which like many movie star cash is down sharply since its early summer time peak—as a method for merchants to “diversify” their holdings, and mentioned she’s sticking across the crypto world even amid turmoil within the markets.
“I simply need to assist individuals out,” she mentioned. “I simply need everyone to do nicely.”
On that be aware, Jenner additionally mentioned that she shall be talking on the subsequent Bitcoin Convention in Las Vegas in 2025, following final month’s occasion in Nashville that featured Donald Trump.
“I am very excited. I’ve been within the talking enterprise just about all my life,” she mentioned. “I would like individuals to know that I am in [crypto] for the long term.”
Edited by Andrew Hayward
Editor’s be aware: This story was up to date after publication to incorporate extra element on the tokenization of the Olympic gold medal and the sensible contracts powering the NFT and associated token.
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