True Peer to Peer Swaps
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A Short Swap Story
Once upon a time, there lived an entrepreneurial Executive Director named Peter Ueberroth, who envisaged a new kind marketing deal for the 1984 Olympic Games in LA. Frought with the dilemma of preserving cash flow while acquiring expensive goods and services for the games, Peter had to devise a crafty marketing strategy.
Possibly unbeknownst to him, Peter honed in on the age-old tradition of barter – the swapping of one’s goods and services in exchange for somebody else’s goods and services. By a stroke of genius and on behalf of the Olympic Committee, Peter offered a super swap deal to their blue-chip corporate sponsors – a barter arrangement that gave the sponsors the right to use the logo of the Olympic Games in their advertisements in exchange for over $150 million in much-needed goods and services to run the games.
And just like that, Peter breathed new life into a powerful alternative marketing tool which was commonplace in just about every ancient culture before the idea of paper-based currency. One that, at that time, created a win-win situation for some of the largest corporations on Earth.