On August 8, Caitlyn Jenner made headlines by launching an innovative auction for her 1976 Olympic gold medal using the MEDAL Token. This groundbreaking project has already caught the attention of crypto enthusiasts, even being featured by Mario Nawfal in a popular X space.
The auction is being held on a custom-built launchpad developed by Jenner's in-house team, leveraging the Base chain to offer fractional ownership of this iconic piece of history. Jenner’s vision is to merge physical and digital assets in a way that’s never been done before, making it possible for anyone to own a digital share of her Olympic gold medal.
The MEDAL Token and Its Significance
The gold medal will be represented as an ERC-721 NFT on the Ethereum Layer-2 network, Base. This NFT will be securely stored in a token vault and fractionalized into 100 million tradable ERC-20 MEDAL tokens. Each MEDAL token is linked to the legally binding contract signed by Caitlyn Jenner, ensuring provable ownership of the gold medal through metadata stored on IPFS.
Jenner shared her excitement about the project, saying, “There’s never been an NFT of a gold medal digitally put out there for you to get involved with. It’s part of history.” This unique approach not only celebrates Jenner's historic achievement but also provides a novel investment opportunity.
How Fractionalization Works
Ownership of the gold medal is represented by a 1-of-1 ERC-721 token, which includes legal proof of ownership verified by Caitlyn Jenner. This ERC-721 contract is securely stored in a vault, allowing the medal to be fractionalized into 100 million MEDAL tokens. This setup enables fans and investors to own a portion of Olympic history in a digital format.
Auction Details
The auction will be hosted on Jenner’s bespoke platform, starting on August 8th at 11:00 AM EST and running until August 15th at 11:00 AM EST. Participants can bid for fractional ownership of the gold medal during this period, with no starting price set. Each MEDAL token is anticipated to be valued in the hundreds of dollars, making this a potentially lucrative opportunity.
How to Buy MEDAL Tokens
1. Visit the Auction Website: Go to https://auction.brucejennerolympicgold.com/
2. Connect Your Wallet: Click on "Connect Wallet" under the contribute section and link your Ethereum wallet.
3. Enter the Amount: Input 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 represents a groundbreaking fusion of sports history and blockchain technology, making it possible for anyone to own a piece of Olympic greatness.