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Athletes are receiving non-fungible token (NFT) digital trophies at the Lake Placid 2023 International University Sports Federation (FISU) Winter World University Games following a collaboration with sports management and monetisation software company Leverade.
In addition to the physical medals, FISU is using blockchain technology to award competitors with digital trophies as it claims to be “positioning itself as one of the world’s most innovative entities.”
“Thanks to blockchain technology, FISU will deliver official medals in NFT format minted by the Federation, with a certificate of authenticity and ownership recorded in the blockchain forever,” read a FISU statement.
“Digital trophies are a great asset and attraction to capture the public’s attention, encourage engagement, and interaction in social networks, and thus attract media attention.”
A series of benefits are said to come for athletes who earn the digital medals.
They will obtain an exclusive and unique digital certification of their sporting achievement which can be carried anywhere via mobile phone, with a virtual trophy room available on the metaverse.
FISU claims that through the digital award they can generate visibility on social networks and finance their careers as athletes.
“The agreement reached between FISU and LEVERADE is a big step toward the future of university sports and demonstrates the utilities and possibilities of blockchain technology within the sporting world,” the statement continued.
Lake Placid 2023 is currently underway in the New York village and is set to run until January 22.
The Japanese delegation are dominating the medals table with nine golds, five silvers, and two bronze medals.
France are the closest competition with two golds, three silvers, and four bronzes.
Several sporting organisations have released their own NFTs including the Association of Tennis Professionals, the Ju-Jitsu International Federation, World Archery, and the World Baseball Softball Confederation (WBSC).
The WBSC also partnered with Leverade to launch the initiative, with the pair striking up a two-year deal.
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Every contribution, however big or small, will help maintain and improve our worldwide coverage in the year ahead. Our small and dedicated team were extremely busy last year covering the re-arranged Olympic and Paralympic Games in Tokyo, an unprecedented logistical challenge that stretched our tight resources to the limit.
The remainder of 2022 is not going to be any less busy, or less challenging. We had the Winter Olympic and Paralympic Games in Beijing, where we sent a team of four reporters, and coming up are the Commonwealth Games in Birmingham, the Summer World University and Asian Games in China, the World Games in Alabama and multiple World Championships. Plus, of course, there is the FIFA World Cup in Qatar.
Unlike many others, insidethegames.biz is available for everyone to read, regardless of what they can afford to pay. We do this because we believe that sport belongs to everybody, and everybody should be able to read information regardless of their financial situation. While others try to benefit financially from information, we are committed to sharing it with as many people as possible. The greater the number of people that can keep up to date with global events, and understand their impact, the more sport will be forced to be transparent.
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Owen Lloyd is a reporter at insidethegames.biz, having joined the team in 2021. Lloyd has previously worked with Badminton England at the All England Open Badminton Championships, covered the 2019 General Election and hosted a radio show on local station Voice FM. He graduated from Solent University in 2021 with a 2:1 in sports journalism, where his final project examined diversity in rowing.
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For nearly 15 years now, insidethegames.biz has been at the forefront of reporting fearlessly on what happens in the Olympic Movement. As the first website not to be placed behind a paywall, we have made news about the International Olympic Committee, the Olympic and Paralympic Games, the Commonwealth Games and other major events more accessible than ever to everybody.
insidethegames.biz has established a global reputation for the excellence of its reporting and breadth of its coverage. For many of our readers from more than 200 countries and territories around the world the website is a vital part of their daily lives. The ping of our free daily email alert, sent every morning at 6.30am UK time 365 days a year, landing in their inbox, is as a familiar part of their day as their first cup of coffee.
Even during the worst times of the COVID-19 pandemic, insidethegames.biz maintained its high standard of reporting on all the news from around the globe on a daily basis. We were the first publication in the world to signal the threat that the Olympic Movement faced from the coronavirus and have provided unparalleled coverage of the pandemic since.
As the world begins to emerge from the COVID crisis, insidethegames.biz would like to invite you to help us on our journey by funding our independent journalism. Your vital support would mean we can continue to report so comprehensively on the Olympic Movement and the events that shape it. It would mean we can keep our website open for everyone. Last year, nearly 25 million people read insidethegames.biz, making us by far the biggest source of independent news on what is happening in world sport.
Every contribution, however big or small, will help maintain and improve our worldwide coverage in the year ahead. Our small and dedicated team were extremely busy last year covering the re-arranged Olympic and Paralympic Games in Tokyo, an unprecedented logistical challenge that stretched our tight resources to the limit.
The remainder of 2022 is not going to be any less busy, or less challenging. We had the Winter Olympic and Paralympic Games in Beijing, where we sent a team of four reporters, and coming up are the Commonwealth Games in Birmingham, the Summer World University and Asian Games in China, the World Games in Alabama and multiple World Championships. Plus, of course, there is the FIFA World Cup in Qatar.
Unlike many others, insidethegames.biz is available for everyone to read, regardless of what they can afford to pay. We do this because we believe that sport belongs to everybody, and everybody should be able to read information regardless of their financial situation. While others try to benefit financially from information, we are committed to sharing it with as many people as possible. The greater the number of people that can keep up to date with global events, and understand their impact, the more sport will be forced to be transparent.
Support insidethegames.biz for as little as £10 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.
Read more 
