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Adidas is launching into the NFT game. The clothing company is launching a line of NFTs on Friday, called In the metaverse, which will offer buyers access to what is essentially a very exclusive fan club. NFT holders will be able to purchase special merchandise, and Adidas says members will help shape the types of products and experiences the company is putting together for its NFT-owning community.
“Adidas is in the metaverse,†said Tareq Nazlawy, senior director of digital growth at Adidas. The edge. “We want to determine what would be the most doping thing to do in this space and start involving the communities that we activate through this [NFT] in how we should manifest ourselves in the virtual world.
The launch comes after a few weeks of crypto hype and Adidas’ metaverse. The company launched digital tokens last month, which will give holders early access to the NFT downside, and a few weeks ago it started tweeting vaguely about the metaverse. Adidas also bought a Bored Ape – the company named the monkey Indigo Hertz – and fitted it with a custom Adidas-branded tracksuit.
NFTs will sell for 0.2 ETH, or around $ 800, from December 17th on the Adidas website. Adidas declined to share how many NFTs would be sold, citing “security protocols,” and declined to say whether the company would receive royalties on NFT’s resales. The company was also not able to share any images or description of this. In the metaverse NFTs will look like before this story is posted.
NFT buyers will have access to “digital and physical†Adidas products and experiences. At first, the physical goods will include the tracksuit worn by Indigo, a hoodie with a blockchain address and an orange beanie. The merch is co-branded with a trio of collaborators: Bored Ape Yacht Club, the much sought-after NFT collection; Punks Comics, which recently featured Indigo on the cover of an issue; and GMoney, a pseudonymous crypto enthusiast who consulted Adidas on how to enter the NFT space in a way that looks genuine. The beanie is believed to be the one worn by GMoney’s CryptoPunks avatar.
“We will be setting up other experiences,†said Erika Wykes-Sneyd, vice president of marketing for Adidas Originals. The edge. “The intention is this thing, this NFT, you belong to a community, and we continue to add value to that over time, and that will also evolve with what we learn about the community, how they change and evolve. . “
This is a familiar formula for the NFT space. The creators of NFT projects will tell you that the true value of their tokens comes from building a community around them and developing a roadmap for delivering new experiences. Adidas seems to be taking this approach, but it’s new to see a big company getting into the fray.
There are a lot of opportunities here for Adidas. Streetwear enthusiasts are already used to competing for limited edition products, and Adidas already has an app, called Confirmed, to sell specials like Yeezys. the In the metaverse The NFT series simply offers a new (and potentially even more exclusive) way to offer this kind of drops.
Plus, the NFT space already operates a bit like expensive and hyped streetwear brands like Supreme. One of the main privileges to this day of owning a Bored Ape Yacht Club NFT is access to exclusive merchandise, like a hat and hoodie, which sells for hundreds of dollars on eBay. their selling price.
From that point of view, it was only a matter of time before a real streetwear brand jumped into action. And it might not be long before others join them: Just this week, Nike bought a company that makes NFTs and virtual sneakers.
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