Workers produce Bing Dwen Dwen merchandise at a toy factory in Jinjiang City, southeast China's Fujian Province, Feb. 9, 2022. Bing Dwen Dwen, the mascot for the Beijing 2022 Olympic Winter Games, has recently become a smash hit. A licensed manufacturer in Jinjiang has resumed the production of Bing Dwen Dwen merchandise ahead of schedule to ensure adequate supply for the market.(Photo: Xinhua)

As the mascot of the Beijing 2022 Winter Olympics, Bing Dwen Dwen has been in the spotlight for its increasingly high popularity across the globe, while organizations have been launching a variety of products featuring the figure. The latest collection being officially licensed involves non-fungible token (NFT) digital pins including multiple designs of Bing Dwen Dwen. 

The pins will be included in 500 epic boxes each priced at $99, with a maximum of five per purchase. They will go on sale on Friday at 9 am Pacific Standard Time (PST ), according to nWayPlay's website, the official platform holding the sales. 

Each Epic Box includes three officially licensed digital pins with approved mascot art performing different winter sports, while featuring the official emblem and a poster. 

Analysts pointed out that the launch of the NFT digital pins proves the success and global influence of the Beijing Winter Olympics, especially with the continued popularity of Bing Dwen Dwen, and the collaboration with the NFT is also in line with market demand, as discussions of the NFT industry have gone viral. 

The IP of Bing Dwen Dwen can be further protected and secured with the blockchain-backed NFT, which will help to better protect its IP rights and promote the development of the cultural and creative industries, Wang Peng, Wang Peng, a professor at Renmin University of China, told the Global Times on Thursday.

Several Chinese business partners of the Beijing Winter Olympics including Alibaba Group and Anta Sports have also launched relevant NFT collections during the Games. 

Several Chinese financial institutions including major banks are using Bing Dwen Dwen as a way to attract potential consumers, as consumers can obtain Bing Dwen Dwen items and other Olympics-related gifts by applying for the themed credit cards. 

Staff members from different banks confirmed to the Global Times on Thursday that credit card holders will be able to obtain gifts such as mascot sets including Bing Dwen Dwen and Shuey Rhon Rhon by meeting specific standards.

A staffer at Bank of China said on Thursday that the promotion started on April 2021, with 100,000 sets of mascots including both Bing Dwen Dwen and Shuey Rhon Rhon being gifted by November 2021, and a total of 200,000 sets were prepared for the giveaway. 

China's Ministry of Commerce said on Thursday that the sales of Winter Olympics merchandise and ice and snow equipment has been brisk, with sales of Winter Olympics-licensed products increasing 21.2 times year-on-year.