NFT Uniqueness

Why is each Olympic Pin NFT unique?

The International Olympic Committee (IOC) and nWay have turned Olympic pins into non-fungible tokens or NFTs. An NFT is a special kind of cryptocurrency token where each one is cryptographically unique. This means that, like physical collectible pins, there is a limited supply. Each NFT Olympic pin contains identifying information recorded in smart contracts. The smart contract is held on the blockchain with full transparency for anyone to see and verify.

I see that there are multiple pins with identical designs, how is each one unique?

Each pin has its own unique serial number. Similar to other collectibles, collectors pay close attention to serial numbers. Thus, the same pin with different serial numbers can have different market values. Keep this in mind when you’re looking to resell your pin on the Marketplace.