adidas allows Web3 customers to access these generative NFTs

Adidas has partnered with Stepn, a Solana-based move-to-earn app, to offer users the ability to generate NFTs. As a result of this collaboration, a new NFT collection featuring Adidas sneakers was launched on Wednesday. For Adidas, creating digital avatars of its popular sneakers as NFTs is a way to connect with a new generation of consumers.

The NFT collection is called the Stepn x Adidas Genesis sneaker collection and has been sold on Mooar, a marketplace associated with Stepn. The collection offers 1,000 NFTs inspired by the brand’s designs.

Commenting on the development, Stepn CEO Shiti Manghani said the brand hopes to promote the concept of “money-making” in both the physical and digital worlds. Adidas’ sneaker-inspired NFT lets brand loyalists play a “mobile money-making” game by having their digital avatars wear Adidas shoes. She also noted that customer rewards are now entering a new era.

“Physical and digital (or ‘physical’) partnerships between the most widely used lifestyle app and global brands like adidas highlight how powerful it is when you can move and earn money in the virtual and real worlds simultaneously. It also shows where lifestyle rewards are heading,” Mangani said in a report. press statement.

The collection will be dropped in a two-stage draw taking place in Mooar from Wednesday. In the first phase, 200 NFTs will be reserved for Stepn’s 5 million customer user base. They can try to obtain NFTs by depositing 10,000 GMT, Stepn’s native token. The company said those who failed to obtain one of these NFTs will receive a full refund.

Through this partnership, Stepn is seeking to increase visibility and engagement for its GMT token. Currently, GMT token is trading at $0.2312 (roughly Rs. 19.34) coin market cap.

In the second phase, Mooar will conduct a public lottery for another 790 NFTs. Winners will be announced every 24 hours from April 18th to April 21st. Stepn can also use this as an opportunity to attract customers to visit Mooar for a week.

Adidas collaborated with a Web3 artist called “Fewocious” last year as part of its new sneaker line. The shoes of this series are bound to NFT exchange tokens, and each token brings benefits to the holder.

The brand also announced the launch of the ALTS Dynamic NFT series in April 2023 as part of an expansion of its “Into The Metaverse” initiative launched in 2021.