The FETRI first federation in the world to deliver NFT trophies

The FETRI has taken a great leap towards the future of the sport, being the first triathlon federation in the world to use the tecnología blockchain to deliver the trophies and medals in digital format – NFT.

Prizes have been awarded to the winning clubs and athletes of the national triathlons held in A Coruña on June 18 and 19 this year.

The president of the Spanish Triathlon Federation has highlighted this innovative initiative in the field of new technologies in which the FETRI is again a pioneer “A Federation like ours, which has made innovation its DNA and has always been at the forefront of Spanish sport, had to move forward with a project such as NFTs and virtual awards.

That's why we wanted to be one of the first federations to grant recognition in the virtual world, in addition to the physical Cups, to the winners of the national leagues.

And we will continue advancing in other digital content that we will be presenting in the coming dates and continue on this path in which many other sports will surely be added.".

What is an NFT?

The acronym NFT comes from the English “non-fungible token”, that is, NFTs are non-fungible tokens.

What does it mean that they are non-fungible?

They are those that cannot be replaced or replaced by others because each one of them is different from the rest, unique, with different properties and each one has a certificate of authenticity and ownership.

In contrast, a fungible token is an asset that can be replaced by the same asset. because they have the same value: a Bitcoin is always worth a Bitcoin, the same with money, a euro is a euro no matter what bill we have.

 Blockchain technology in sports

Thanks to this technology, FETRI is being pioneer in the world of triathlon in delivering official trophies and medals minted by the Federation, with a certificate of authenticity and ownership recorded in the blockchain forever.

Just as books became e-books, renting in the video store became a streaming platform, online purchases are common currency; The digitization of the official trophies is a step towards the future, changing the paradigm of traditional physical trophies that are awarded in the same way hundreds of years ago.

Trophies in NFT format also allow the federation, clubs and athletes to share it with their digital community, with the young people who will be the future of sport one day.

Spectacular designs, which defy the laws of physics and what is possible, are also a great attraction to attract the attention of the public and the media, amplifying the impact of these awards.

Who have been the first winning clubs and now owners of these NFT trophies?

The competitions held in A Coruña on June 18 and 19, 2022, have been the starting point for the delivery of digital trophies by FETRI.

The winning clubs and athletes of the Iberdrola League and the Men's Triathlon League have received the trophies in NFT format in their virtual wallets, immortalizing their sporting achievement forever on the blockchain.

Which in this case were for the Cidade de Lugo Fluvial, winners of both Triathlon Leagues in the 2022 season, and the rest of the clubs that made the podiums.

El  Náutico de Narón, in second place, and Imps from Rivas, in the third of the Iberdrola League.

And the Imps from Rivas in second place, and Saltoki Trikideak in the third of the Men's League.

The agreement reached by FETRI and LEVERADE is a great step towards the future of sport and begins to demonstrate the uses and possibilities of blockchain technology in the sports world.