Caitlyn Jenner, the former Olympic athlete and iconic member of the Kardashian-Jenner family, has announced the launch of her latest blockchain venture, the 1976 Medal (MEDAL) token.
This project, blending sports history with advanced blockchain technology, has attracted considerable crypto community interest.
From Olympic Gold to Digital Gold: Jenner’s MEDAL Token Explained
According to its official page, the MEDAL tokens represent a fractional share in the value of Jenner’s 1976 Olympic Gold Medal. However, they do not confer physical ownership of the medal itself. The physical medal remains in Jenner’s possession, with the tokens offering a unique investment opportunity within a community-driven initiative.
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Jenner provided further information on her social media. She explained that the ERC-721 tokens are linked to verifiable metadata of her gold medal.
Furthermore, she referred to this as a “real-world asset (RWA)” and mentioned a legally binding contract stored on IPFS that confirms her ownership of the Olympic medal. These tokens are then stored in a “Token Vault,” allowing their fractionalization into an ERC-20 token.
“Then, via our own in-house-built custom launchpad, using the Base chain, we will deploy and allow for trading!” Jenner explained.
The launch of the MEDAL tokens is Jenner’s latest foray into the blockchain space following the debut of her meme coin, JENNER, in June. She released the token on the Solana blockchain via pump.fun launchpad.
BeInCrypto reported that JENNER witnessed an unprecedented surge on its first day. It soared by 28,000% and reached a market capitalization of $18 million.
However, the token’s value has since stabilized. Based on DEX Screener data, its current market capitalization is $243,000, and it is trading at $0.0002436.
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Jenner’s team addressed the community’s questions about the new project in the JENNER community Telegram group. They assured that despite the launch of the new MEDAL token, the JENNER remains a primary focus for the team.
The team informed the community about the detailed plan, which they have been developing for over two months. They will execute it alongside the launch of the new project. As part of the community-driven approach, all JENNER holders will receive rewards upon the launch of the MEDAL token project on Thursday.
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