Adidas launching NFT collection with exclusive access to streetwear drops.
The first drop of the collection will be available for purchase on the Adidas app and in select retail locations.
In order to launch its new NFT collection, Adidas will give fans access at a special price of $10. The limited-edition items created from rare materials such as denim, polyester, and leather will be available for 24 hours and then sold for what it would have cost originally on the app or in-store.
On Friday, Adidas will launch a new line of NFTs called Into the Metaverse. This line is aimed primarily at sports fans and allows access to an exclusive fan club. Adidas wants to offer exclusive drops to NFT holders ranging from unique merch to experiences that will be created just for the NFT community.
Tareq Nazlawy, Adidas’ top digital marketer, tells The Verge in an interview that Adidas is going “all in” on the future of Virtual Reality “A lot of the communities we’re activating through these [NFT] tokens are telling us what their dream world would be. We want to continue the dialogue with them and figure out how to put that into practice in the virtual world.”
Adidas has recently announced the release of their new NFT tokens and it became clear to many that these tokens would have a grand announcement. This announcement was made last month and Adidas launched something else in the past couple of weeks. Adidas also recently bought a Bored Ape — the company named it Indigo Hertz. The Apes were outfitted with Adidas branded tracksuits to resemble their name and logo colors.
Adidas launching NFT collection
Adidas plans to release the NFTs for their December 17th launch through Adidas’s website. There are not many companies announcing their plans to sell this type of product, so we don’t know how many will be sold. We do know that Adidas aims to create a more secure trading platform and service users who want to purchase goods without being taxed on goods bought with crypto. The firm has not released any images or descriptions of what its NFTs will look like yet and you can expect this article to go live just before the company’s website launches.
Customers will get to buy Adidas products online and in stores, including a “digital and physical” tracksuit worn by Indigo. They can also buy other products like a hoodie with a blockchain address on it and an orange beanie. Alongside social & pop culture, merch has become an integral part of the intersection of fashion, art, and commerce.
Due to these trends, it is becoming more & more common for artistically-minded brands to co-brand their products with tastemakers in the industry as a way to build awareness. “G Money” works in the cryptocurrency space as a consultant for Adidas. He’s consulted with them on how to enter the universe of NFTs without feeling false or inauthentic. The beanie is the traditional one worn by GMoney’s “CryptoPunks” avatar.
“YOU BELONG TO A COMMUNITY, AND WE CONTINUE TO ADD VALUE TO THAT OVER TIME.”
“We have a lot of experiences that we’re putting together,” Erika Wykes-Sneyd, vice president of marketing for Adidas Originals tells The Verge. “NFTs represent a shift in the way people see ownership of digital assets. One thing that we’ve heard is that asset ownership gives power and control. However, crypto effectively gives a new type of ownership & control to the community.”
Token creators often say the real value of their tokens comes from building a community around them—and in order to deliver on this, they have to develop a roadmap with new experiences. Adidas appears to be taking an innovative approach, trying something that no one really ever experimented with before. It’s great to see them do this!
There has been a lot of discussion around the future of retail, and one company that is positioned to take full advantage of the changing ecosystem is Adidas. Their app, called Confirmed, allows customers to buy special runs like Yeezys. The Into the Metaverse NFT series may offer a new way to acquire rare & exclusive experiences and collectibles.
Plus, the streetwear market already operates like a pricey hyped brand like Supreme. One of the key privileges so far of owning an exclusive NFT is access to sales on eBay that resell well.
A commercial brand in the streetwear space, like Nike, was bound to make a move on this. Not too long ago, Nike bought a company that was creating virtual sneakers for an NFT game