Adidas, the prominent footwear brand, has teamed up with the blockchain-based fitness app Stepn to introduce a distinctive line of physical sneakers. The collection, featuring the Adidas Ultraboost 5 running shoes, will be available this month with only 1,200 pairs being produced. These exclusive sneakers can be purchased solely through the MOOAR marketplace, marking a significant shift from digital assets to physical merchandise.
How Did Adidas and Stepn Start Their Partnership?
The collaboration between Adidas and Stepn began earlier this year with the announcement of the Stepn x Adidas Genesis Sneakers NFT collection, which consisted of 1,000 NFTs that attracted considerable attention in the digital realm.
What Does This Collaboration Indicate for the Industry?
The move to launch physical sneakers showcases a new trend in merging digital and tangible products. According to Stepn CEO Shiti Manghani, this initiative represents a pivotal moment in the Web3 ecosystem, emphasizing the shift from virtual collectibles to real-world items.
Erika Wykes-Sneyd from Adidas noted that this venture merges athletics with technology, pushing boundaries in both sectors. Following the announcement, Stepn’s GMT coin saw a notable increase in value, rising from $0.232 to $0.26.
The launch of these sneakers comes at a crucial moment in the market, especially after Nike’s RTFKT division, which had previously thrived, announced its closure despite impressive profits. This highlights key takeaways for the industry:
- Adidas and Stepn are successfully merging digital and physical platforms.
- The demand for tangible products in the digital age is growing.
- Market dynamics are shifting, as evidenced by RTFKT’s closure.
The introduction of these limited-edition sneakers signifies an innovative approach that could reshape the landscape of both sports and technology, indicating a promising future for such collaborations.