04/03/22

Adidas NFT Drop Promises Access To IRL Goods

The Adidas NFT collection, called Into The Metaverse, also comes with exclusive access to physical streetwear drops and apparel products which will be released to NFT owners in phases.

Adidas has jumped headlong into the metaverse, recognizing the crossover appeal of streetwear brands, the gaming community, and the new and ever-evolving modes of self-expression possible in virtual worlds. The brand hopes to be a trusted friend of metaverse users, and aims to create a vibrant community within next-gen virtual spaces. As part of its “Into the Metaverse” NFT drop, Adidas sold out 30,000 NFTs to its loyal fans and brand enthusiasts. Most NFT project creators will tell you that the primary value driver of their tokens comes from building a community around them and delivering new experiences, which is the so-called lightning in a bottle that Adidas is looking to capture with its new initiative.

Throughout a total of four phases in 2022, also known as product redemption periods, the Adidas NFT owners will have guaranteed access to claim exclusive physical products at no additional cost beyond their original NFT purchase. Items available include a Firebird tracksuit, a graphic hoodie and a beanie, all co-created with brands like Bored Ape Yacht Club, Punks Comics and crypto consultant GMoney. To level up to the next phase or claim a product, NFT holders go to the Into The Metaverse website, connect their crypto wallet to verify ownership and phase level, and will be able to then access the items. As they move from one phase to the next, their NFT will also automatically change color, signifying their standing in the overall process. Looking ahead, the sportswear brand is planning to continue offering additional experiences and perks for their NFT community, delivering ongoing value for their most loyal customers.

To ease its transition into the metaverse and its at-times cliquish communities, Adidas purchased a Bored Ape named Indigo Hertz for the company to use as a mascot, and even outfitted it with a custom tracksuit, which will be released as part of their physical Product Drop Strategy. The NFT-drop merch is cobranded with a trio of collaborators mentioned above, PUNKS, BAYC, and GMoney, who have all been consulting with Adidas on how to enter the NFT space in a way that feels authentic.

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This article originally appeared in the PSFK report, Product Drop Strategy.