Adidas jumped headlong into the metaverse, recognizing the cross-appeal of streetwear brands, the gaming community, and the ever-evolving new modes of expression possible in virtual worlds. The brand hopes to be a trusted friend of metaverse users and aims to create a vibrant community within next-gen virtual spaces. As part of its “Into the Metaverse” NFT drop, Adidas sold 30,000 NFTs to its loyal fans and brand enthusiasts. Most NFT project creators will tell you that the main driver of value for their tokens comes from build a community around them and offering new experiences, the so-called lightning in a bottle that Adidas seeks to capture with its new initiative.
During a total of four phases in 2022, also known as Product Redemption Periods, Adidas NFT owners will have guaranteed access to claim exclusive physical products at no additional cost beyond their original NFT purchase. Items available include a Firebird tracksuit, graphic hoodie and beanie, all co-created with brands such as Bored Ape Yacht Club, punk comics and crypto consultant GMoney. To progress to the next phase or claim a product, NFT holders go to the Into The Metaverse website, connect their crypto wallet to verify ownership and phase level, and then can access the items. As they move through the phases, their NFT will also automatically change color, indicating their position in the overall process. Going forward, the activewear brand plans to continue to offer additional experiences and benefits to its NFT community, delivering continued value to its most loyal customers.
To ease its transition to the metaverse and its sometimes cliquish communities, Adidas purchased a Bored Ape named Indigo Hertz for the company to use as its mascot, and even outfitted it with a custom tracksuit, which will be released as the a physical product drops. The NFT-drop product is co-branded with a trio of aforementioned collaborators, PUNKS, BAYC, and GMoney, all of whom have consulted with Adidas on how to enter the NFT space in a way that feels authentic.
This article originally appeared in the PSFK report, Product Drop Strategy.