Jamaican Bobsled Team Sells NFTs To Raise Money For The 2022 Winter Olympics
Photo Credit: Leon Neal
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Jamaican Bobsled Team Sells NFTs To Raise Money For The 2022 Winter Olympics

The Jamaican bobsled team would love to continue its “cool runnings” into the winter Olympics.

In a press release announcement, it was revealed that one of the world’s most famous bobsled teams would love to go to the winter Olympics, and they need to raise money to do so. But this time around, they’re not going to be doing exhibitions or heart-warming Disney movies. Rather, they’re raising money with non-fungible tokens (NFTs).

The NFT Drop will feature limited edition digital artwork which highlights the best of the Jamaican Bobsled Team brand: daring, courageousness, persistence, and claiming your place on Earth regardless of where you are,” read a statement in the press release. “The NFT Drop initiative is the first of its kind, mixing in a range of authentic Jamaican digital and physical experiences from musicians, music, and art lovers along with a purpose-driven mission of securing the celebrated team a spot in the 2022 Olympics utilizing unique digital assets.”

According to a press release provided to AfroTech, proceeds will go toward Olympic training, purchasing world-class equipment, housing, and more.

“Currently, the single greatest challenge is to acquire elite quality racing sleds and runners. It does not matter how talented you are or how hard you work; without competitive equipment you can’t reach your potential,” said Chis Stokes, CEO of the Jamaica Bobsleigh and Skeleton Federation, in the release. “Secondly, we want to have funding in place to implement predictable and stable athletic development programs. We are hoping the NFT project will help to solve these issues.”

Jamaica Bobsleigh Team’s Sponsorship Agent, Rohan Midha, says, “In addition, it will help move the NFT space into mainstream for artists, athletes, entrepreneurs and more to claim, own, manage and monitor their own brand value. It’s a shift in power to the creator and away from commercialization; a seismic shift in how value is owned, accumulated and traded.” 

While Hip-Hop and other industries have already been taking advantage of the NFT boom, Jacob York suggests this fundraiser will provide a shift that will allow non-profits, non-governmental organizations, and more to enter the space.

“I think there will be a shift towards social equity plays, this is one of the projects that will act as a catalyst so the NFT space will be recognized more widely for the social equity, which will allow more non-profits, NGO, etc. to enter the space from a non-profit angle,” York said.

The NFT drop will be released later this year. While an exact date has not yet been revealed, the winter Olympics Bobsleigh qualifications date is Jan. 16, 2022. Fans who are interested in purchasing the NFTs — either to add to their collection, to support the Olympic underdogs, or both — can tune into the team’s official website to see when the official drop will be happening.

To learn more about the Jamaican Bobsled Team, you can visit their website here.

Editorial Note: This piece has been updated since initially published.