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STEPN x Adidas Collaboration Unveils NFT Sneaker Collection

Published 2024/04/15, 17:03
Updated 2024/04/15, 17:30
© Reuters.  STEPN x Adidas Collaboration Unveils NFT Sneaker Collection
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  • The STEPN x Adidas (ETR:ADSGN) Genesis Sneakers collection introduces 1000 distinct NFT sneakers
  • 200 NFTs are reserved for loyal users, and 790 are available in a public raffle sale on MOOAR
  • This collaboration highlights STEPN’s “move-to-earn” focus

Move-and-earn lifestyle app STEPN and Adidas have teamed up to introduce a new collection of non-fungible token (NFT) sneakers. This development marks the commencement of a year-long partnership and presents a fusion of wellness gamification and the renowned sports brand Adidas.

The 1000 STEPN x Adidas Genesis Sneakers, featuring co-branded logos, will be minted on the Solana blockchain, making each pair distinct. Set to launch on Wednesday, April 17, the collection will be available on STEPN’s affiliated NFT marketplace, MOOAR. Each pair will be priced at 10,000 GMT, STEPN’s native token.

Furthermore, this inaugural release is part of the roadmap for subsequent NFT drops and the introduction of physical wearables during the partnership. It also emphasizes STEPN’s dedication to improving the “move-to-earn” sector by democratizing future technology.

Moreover, STEPN’s community-focused approach has propelled its success, boasting over 5 million registered users globally. This collaboration follows a recent airdrop event, where the STEPN community received approximately $30 million in tokens.

Besides, this partnership aligns with STEPN’s broader efforts in “FitTech.” The platform has initiated alliances with personalities like DJ Steve Aoki, the Japanese animation series Ghost in the Shell (LON:RDSa), and the soccer club Atlético de Madrid.

Shiti Manghani, CEO of STEPN by FSL, commented on this collaboration, stating,

This collaboration between STEPN and Adidas underscores how powerful it is when you can move-and-earn in both the virtual and real world simultaneously. That such a physical and digital – or ‘phygital’ – partnership between the most widely used lifestyle app and a global brand like Adidas are now a reality indicates the direction lifestyle rewards are going.

Starting April 17, distribution unfolds in two phases. Initially, 200 NFTs will be reserved for the most dedicated users. Eligible recipients include holders of ‘ALTS by Adidas NFTs and select members of the broader FSL community, comprising STEPN, MOOAR patrons, and blockchain game Gas Hero participants.

The remaining 790 NFTs will also be available to the public through a raffle sale from April 18 to April 21. Winners will be drawn daily, and redemption will be facilitated on the MOOAR marketplace. Additionally, a strict limit of one NFT per wallet has been imposed to ensure fairness.

Since its launch in 2021, STEPN has experienced remarkable growth, reaching a user base of over five million. The platform integrates Web3 technology with the expansive gaming industry, projected to surpass $522 billion by 2027, and the growing wellness sector.

The post STEPN x Adidas Collaboration Unveils NFT Sneaker Collection appeared first on Coin Edition.

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