Crypto exchange Coinbase has seen a positive response to its blockchain-powered digital medals at the 2024 Nike Melbourne Marathon Festival, its APAC region managing director said.
More than 42,000 runners took part in this year’s annual marathon in Australia, the first to feature blockchain technology and race-specific digital collectibles for all participants.
Speak with CryptopolitanJohn O’Loghlen, Coinbase’s director in the APAC region, said the response from race participants was very positive. Many were new to crypto and eager to get into and use blockchain technology for the first time.
“There was strong interest in the technology from sports fans and it was particularly encouraging to see their enthusiasm as many participants had not invested in crypto before,” he said.
“We saw an overwhelming response with runners claiming their digital medals after the race, demonstrating that blockchain can be an exciting intersection between technology and sport at every level,” O’Loghlen added.
Even after the day was over, O’Loghlen said the continued “response and engagement” among marathon participants was great.
In the run-up to the Oc. During the 13th event, racers were promised a digital collectible medal, stored in a non-fungible token (NFT), allowing runners to track their finishing times and access exclusive benefits upon completing the race.
Digital medals stored on Base blockchain
Information about events and runners, including performance metrics such as official race times, was collected and stored on the Coinbase-developed Ethereum Layer-2 network Base, where runners could later claim their medals via a link.
Racers could get an NFT medal with their finishing times and access exclusive benefits. (Source: Coinbase)
“After the race, runners received a link to access their personalized medals with their recorded performance data in an NFT, which is securely stored on the Base network, powered by Coinbase,” O’Loghlen said.
“This also included the 60 people who received a gold medal, guaranteeing entry for their choice of distance at the next Nike Melbourne Marathon Festival in 2025.”
The activation of the collectibles took place around a Coinbase Cooldown Room, where racers could rest, learn more about crypto, and set up a digital wallet to store their medal NFT.
Five Australians and one New Zealander achieved top positions in the marathon
Melbourne’s Jack Rayner won the men’s marathon, running the 26-mile course in 02:11:49 and taking home a $25,000 first prize for his efforts. Compatriot Ryan Gregson came second, while New Zealand’s Christopher Dryden came third.
Genevieve Gregson won the women’s division and the $25,000 first prize with a time of 2:28:13. Australians Sarah Klein and Kate Mason took second and third place.
According to O’Loghlen, Coinbase approached the Nike Melbourne Marathon Festival for a year-long partnership to help take blockchain mainstream and open up Australian sport and fitness to the digital world of cryptocurrency.
“We see more and more sports and wellness brands committed to bringing the digital and physical worlds together to transform the fan experience,” he said.
Coinbase previously partnered with the National Basketball Association (NBA) and the Women’s National Basketball Association (WNBA) to offer fans similar collectibles.