Whether or not winter sports make you excited, you must have been seeing news coverage all over the internet from the 2018 Winter Olympics event that is currently being held in Pyeongchang, South Korea.

However, as much as we would like to see it, there is no Bitcoin logo to be noticed during the event akin to the Bitcoin Arena or an athlete sporting cryptocurrency gear similar to Rory MacDonald from his MMA fight.

Despite all the other excitement presented by the Olympics, here is a piece of news from the event that is relevant to the cryptocurrency industry.

Canadian speed skater and world record holder Ted-Jan Bloeman, who is currently representing the country in the Pyeongchang Olympics, also holds the distinction of being the only athlete out of the 2,952 who accepted payments in cryptocurrency for his sponsorship deal.

According to an official announcement made just before the Winter Olympics event, Bloeman accepted a sponsorship deal from two companies: ONG Social Network, which focuses on cryptocurrency rewards for its community, and CEEK VR, a virtual reality content company.

As per the deal, Bloeman, who is competing in the 5,000 meter, 10,000 meter, and Team Pursuit events, will be participating in posts and content related to the ONG Social Network and CEEK VR and will be earning “cryptocurrency rewards” to finance the requirements of his athletic career.

However, no details were provided for the cryptocurrencies in which Bloeman will be compensated. The percentage of the earnings in cryptocurrency was also not confirmed.

That being said, Bloeman expressed his excitement about the collaboration and mentioned that the concept of progression that comes with speed skating goes right along with what cryptocurrency based ventures are doing at the moment.

Bloeman mentioned:

“Speed skating success is all about progression – building and building to peak at the right time.”

He concluded:

“I’m excited to step into the future with ONG and CEEK. Their progressive approach to social media and VR paired with crypto currencies bring a whole new perspective. A perspective that, I believe, has a lot of potential! I feel like I just got two new teammates to help put me over the top, at the most important point in the season.” 

About the partners

CEEK VR, which currently holds distinctive virtual reality content such as concert coverage from Lady Gaga, Katy Perry, and U2, also offers its patented virtual reality headsets to its customers to enjoy that content. It also utilizes blockchain technology for effective management of virtual reality content and virtual tickets.

ONG Social Network, on the other hand, is a one of its kind social media dashboard that aims to incentivize user participation with cryptocurrency rewards. It leverages from both centralized social media networks and decentralized solutions and aims to connect these mediums to offer a unique experience to its users.

The effects this could have on other sporting events

A prominent athlete giving this much exposure to cryptocurrency – especially during a world sporting event – is a positive thing.

This just goes on to show that the world of cryptocurrency is not just creating new digital assets, but also opportunities that had not been available before. This might open doors to new deals for other athletes in the future, and we cannot wait to see them unfold.