A scarce asset like Bitcoin, the Olympic Torch of the 2016 Olympic Games in Brazil are sold on the Internet with an initial price of R$ 4 thousand
The Olympic Torch, one of the main symbols of the Olympics, the largest and oldest sports competition in the world, is being sold ‚by the sea‘ by Brazilians who are in economic difficulties due to the crisis caused by the coronavirus.
On the internet or differently with the holders of the Olympic symbol it is possible to acquire an original Olympic torch for less than 0.023 bitcoins.
On Mercado Livre, the biggest e-commerce portal in Latin America, it is possible to find ads of people selling the torch with initial value of R$ 4 thousand to R$ 120 thousand and, among the questions asked to the sellers, many buyers ask if they can pay with cryptomoedas.
„I told a little about my life: the fact that I’m trans, that at the time I was studying at the Faculty of Letters and I argued about breaking taboos. Then I was chosen. On the day, I thought I would only go there, like anyone else, to drive the torch. But when I got to the point where I would drive, I saw a lot of reporters and a lot of people. I had no idea that I was the first trans to drive the torch and the responsibility that this represented,“ highlighted Folha de São Paulo Bianka Acsa Rosa da Fonseca, who intends to sell the torch to pay bills.
Paying debts is also the desire of Ygor Marcel da Cruz Santos, who also conducted the torch in 2016 and is unemployed.
„I’d rather give up something that’s important to me than arrive at a store, a market or anywhere and know that I’m not going to go in there with my head held high because I should. I want to get my life together and be able to walk down the street again with my head held high,“ he said.
Torch is not a rare commodity
Although the Olympic torch is one of the main symbols of the Olympics, it is not a ‚rare commodity‘ and about 12,000 torches were made for Brazil’s Olympics in 2016.
They were conducted by exactly 12 thousand people during the 95 days preceding the Olympic Games that year.
However, the participants were not ‚given‘, those who had no sponsor to ‚bankroll‘ the Olympic item had to pay R$ 1,985 for the product.
So, although the item is not rare, after all there are 12 thousand torches spread throughout Brazil it is an item with scarce supply, that is, there will be no more torches, at least regarding the 2016 Olympics.
And if it depends on the son of singer Tim Maia, Carmelo Maia, the item should become even more scarce in the market, since he said he intends to buy all the available torches.
„I want the torch, because I’m a collector of any rare object -even though the torch is not rare, were distributed 12,000 of them, which is a big deal-, but I would like one because it was made an event in my country and I’m super patriotic. I’m a collector,“ he told Folha.
Medalists and Coinbase
While Olympic torch drivers sell their goods to pay off debts, Olympic athletes like world-famous tennis player Serena Jameka Williams invest in the cryptomorph market.
Since 2019, Williams through her investment company, Serena Ventures, has announced an important investment in Coinbase, the leading exchange of cryptomorphs in the U.S..
Olympics and digital currencies
While in Brazil the Olympic torch is traded by bitcoins, in China the country intends to officially launch its Central Bank Digital Currency, (CBDC), now known in the country as DC/EP, or Digital Yuan, in the Olympic Winter Games in 2022.
In 2022, Beijing will host the Olympics for the second time in its history, having hosted the 2008 Summer Olympics.
Although there are ten other cities that have hosted the Olympics twice, Beijing will be the first to host both games.
In 2008, 6.8 million tickets were sold for the Olympic Games, and larger numbers are expected this time, especially with the success recorded so far in the Covid-19 match.
With tests in progress and incentives associated with the digital yuan project, it is expected that sufficient data will be acquired and possible adjustments made before the 2022 Olympics in Beijing.
Hotels, restaurants, and sports facilities are the main industries where the CBDC is likely to be implemented.
Recently the Chinese government also declared that the digital yuan test is „in full swing“ at the Olympic sites.