As NFTs boomed and Meta went all-in on the metaverse in 2021, a bevy of legacy firms started working on Web3-adjacent or metaverse projects. As interest in NFTs and the metaverse stagnated, many of these brands quietly shuttered their Web3 initiatives, with project leads either leaving or pivoting roles. Starbucks Odyssey was the latest such casualty.

Adidas, however, appears to be keeping one foot in the metaverse. 

Move to earn app STEPN announced a “long-term collaboration” with the global sports brand this week. The partnership so far comprises the launch of 1000 generative Solana-based NFTs of Adidas sneakers. 

STEPN users must have a sneaker NFT to use the movement app, which pays out rewards in GMT and GST tokens for users’ movement.

The Adidas NFTs went on sale this week for 10,000 GMT apiece, worth roughly $2400 at current prices. 

“We are ready to step into the future with @Stepnofficial,” ALTS by Adidas wrote on X.

Also this month, the Web3 online survival game show Crypto The Game let users bid on Adidas-branded tracksuits in an immunity challenge.

Adidas’ global head of Web3 strategy is Evgeniy Medvedev, who previously worked in business development at NFT company Rarible.

Source: Jack Kubinec – blockworks.co