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Adidas' NFT Drop

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Avatar for wholelottajuju
Written by   10
5 months ago

On December 17, 2021, Adidas will be dropping a monumental NFT collection in collaboration with big names in the sphere. This may look like Adidas is just dipping their toes in the NFT hype, but trust me, there's more to this.

What's in the NFT drop?

For starters, Adidas is seeking to target streetwear enthusiasts with this drop. With the hypebeast community increasing in soft power over time and thus setting trends among popular culture, Adidas wants to leverage the high demand for streetwear products with a new take on its iconic lifestyle branding.

The "Into the Metaverse" collectibles range from digital to physical products. As McDowell and Chitrakorn state:

The collection is being revealed through digital and physical comic books, created in collaboration with a host of trending metaverse players: PFP phenomenon Bored Ape Yacht Club (BAYC), NFT influencer Gmoney and comics series Punks Comics.

Add on a cool physical piece like a Firebird tracksuit, a graphic hoodie, and Gmoney's orange beanie, and you have a campaign suited for die-hard NFT and Adidas collectors.

Is it worth it?

The NFT supply will be limited to 30,000 for 0.2 ETH each. At this very moment, that's about $800 ETH for a single NFT. Mind you, the 30,000 supply is quite large for a drop of this calibre.

As an experienced NFT collector, you may think this drop just isn't worth it. But, with such high supply and high pricing, the demand is bound to drop... right?

Well, I wouldn't be so sure if I were you. Not only do you have Adidas, a legendary brand that's built and transformed several aspects of popular culture, but you also have Bored Ape Yacht Club NFTs joining the fray. As a limited NFT collection with members ranging from Post Malone to Stephen Curry, this is a sure-fire way for Adidas to attract new consumers.

So yeah, it may not be worth it. But with big-name brands backing this campaign, I can see the collection appreciating over time.

What does the future bring us?

As I said in the begging, this isn't just about breaking the news cycle with a unique collection. There's more to Adidas' marketing strategy. In fact, Into the Metaverse NFT owners will receive exclusive access to wear their digital items in The Sandbox metaverse.

That's right, Adidas has purchased 144 parcels of virtual land in The Sandbox just for its collectors. In addition, they plan to add more experiences and features in their plot of virtual land, so expect some big news from Adidas in the coming year.

I feel like Adidas is doing everything right. Combining lifestyle branding through its cool and hip streetwear products with the community branding aspect of its metaverse experience, and you have a combobulation of goodies for like-minded consumers.

By adding wearable NFTs in its metaverse experience, Adidas is showing everyone that its the frontrunner in integrating digital wearables into the metaverse.

Sources:

https://www.adidas.com/into_the_metaverse/

https://www.voguebusiness.com/technology/adidas-reveals-new-nft-project-with-bored-ape-yacht-club

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Avatar for wholelottajuju
Written by   10
5 months ago
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Comments

In the future, I think the cooperation of large companies with NFT projects will not be avoided

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5 months ago

Completely agree! Web3.0 is bound to change brands' positioning in the market.

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5 months ago