Adidas Jumps into the World of Blockchain Gaming with STEPN’s Sneaker NFTs
Sportswear giant Adidas has entered the world of blockchain gaming. The pioneer of the “earn while you run” blockchain game, STEPN, recently announced a long-term partnership with Adidas. The collaboration kicked off with the launch of a limited edition sneaker NFT (non-fungible token) collection.
The first release, called “STEPN x adidas Genesis Sneakers,” is limited to 1000 pairs. These sneakers feature the lightning logo of STEPN and Adidas’ iconic three-stripe design elements. Priced at 10,000 GMT (STEPN’s native token), which is roughly $2,500, these NFT sneakers will be deployed on the Solana blockchain and sold on the MOOAR trading marketplace.
The “STEPN x adidas Genesis Sneakers” collection is just the beginning of a long-term collaboration between STEPN and Adidas. Future releases will include both physical and digital collectibles.
Shiti Manghani, the CEO of STEPN, expressed that the main motivation behind this partnership is to engage the Web3 communities of both brands and encourage active participation. After all, sports, fitness, and lifestyle are core values emphasized by both Adidas and STEPN.
Manghani further revealed that the collaboration between the two brands will expand into their respective applications and involve “products that reward people for participating in running.” However, specific details have not been disclosed yet.
The sale of the “STEPN x adidas Genesis Sneakers” will take place in two stages. Starting on April 17, the sneakers will first be offered through a lottery on the MOOAR marketplace. Eligible participants include holders of Adidas NFTs from ALTS by adidas, STEPN OG sneakers, and Genesis sneakers. Public sales will then be open from April 18 to April 21.
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What is Adidas’ Web3 Strategy?
Adidas has been deeply involved in Web3 for the past two years and has now made a deeper foray into the blockchain industry by entering the world of blockchain gaming.
In 2021, Adidas launched the NFT project “Adidas Originals: Into The Metaverse,” which has now entered its third phase. The Adidas NFT project has weathered both bull and bear markets. In early 2023, Adidas announced the establishment of the Web3 studio “/// Studio,” demonstrating its commitment to deep development.
In May 2023, Adidas partnered with NFT security certification company Tokenproof for a three-year collaboration. Through Tokenproof’s CONFIRMED mobile app, exclusive experiences for the Adidas NFT community are provided through token-gated verification. This allows holders of Adidas NFTs, specifically the “ALTS NFTs,” to purchase special collaborations and designer collections.
In August last year, Adidas’ subsidiary Adidas Originals collaborated with the streetwear brand BAPE to release the limited edition “Triple-White Forum 84 BAPE Low” sneakers. What makes these sneakers special is that they were released through a combination of physical and digital integration by Adidas’ Web3 studio “/// Studio” and auctioned on the Adidas digital collectibles platform, Collect.
According to official sources, this was also Adidas’ first time selling digital assets through an auction format.
Source:
Decrypt, Forbes
Editor: Gao Jingyuan
