Adidas Joins The NFT And The Metaverse Craze To Help Define 'A New Age Of Originality'

Adidas is an apparel and sportswear company. And through its Adidas Originals, the company is launching its first non-fungible token (NFT).

Calling it "Into the Metaverse," the company offers holders of its NFTs entry to an exclusive fan club, where they can have access to "digital and physical" Adidas products and experiences.

There, the NFT holders can purchase special merch drops, in which Adidas said that members will help shape what kinds of products and experiences the company puts together for its NFT-owning community.

"Adidas is in the metaverse," said Tareq Nazlawy, Adidas’ Senior Director of Digital Growth.

"We want to figure out what would be the dopest thing to do in that space and start involving the communities we’re activating through this [NFT] in how we should manifest in the virtual world."

The NFTs sell for 0.2 ETH, or about $800, starting December 17th through Adidas’ website.

The launch comes a few weeks after Adidas made a hype about its metaverse initiative.

The company launched its digital tokens a month earlier, before tweeting vaguely about the metaverse.

To show how serious it is, Adidas Originals partners with NFT players such as Bored Ape Yacht Club, Gmoney, and the team behind the Punks Comic.

The company has also acquired a plot of virtual land inside The Sandbox, which it is working to fill with exclusive content and experiences.

The company is doing this with its partnership with Coinbase, one of the leading cryptocurrency exchanges.

"There will be other experiences we’re putting together," said Erika Wykes-Sneyd, VP of marketing for Adidas Originals.

"The intent is this thing, this NFT, you belong to a community, and we continue to add value to that over time, and it’s gonna also evolve with what we’re learning about the community how they’re changing and evolving."

Adidas said members are also given the chance to redeem a POAP (Proof of Attendance Protocol) NFT status badge, in order to commemorate their presence at the start of the brand’s metaverse journey.

“It’s so refreshing to see a culturally influential brand like Adidas Originals work so closely hand-in-hand with the NFT community,” said Gmoney, in a statement.

“At every step, they’ve included the right partners from the crypto, metaverse, and NFT community and listened to their thoughts at an early stage.”

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As part of our ambition to celebrate ideas that are defining a new age of originality, we’ve landed at the forefront of creativity, which is the open metaverse,” said Erika Wykes-Sneyd, vice president of marketing and communications at Adidas Originals.

“It’s a natural place for Adidas Originals to enter: a wild world where possibilities are truly limitless and where anyone can express and be rewarded for their most original ideas.”

“Blockchain is one of the most innovative technologies of this generation. We see it unlocking boundless potential to connect with our members,” said Scott Zalaznik, the chief digital officer at Adidas.

“The foundation we are building with Web3 will lead to new creative opportunities for partnerships, engagement through digital goods, and a path towards a more inclusive future.”

Adidas plans to make its digital and physical wearables available for Adidas NFT owners starting 2022.

While things are put inside the blockchain is meant to be transparent, Adidas is a bit avoiding that.

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 resales.