A report: Adidas’ presence in metaverse and Web3

Adidas ventured into Web3 with a bang. Its market strategy includes alliances, messaging, exclusivity, and utility. Adidas debuted on the virtual world launching Into the Metaverse in collab with BAYC, PUNKS Comic, and gmoney. It purchased Indigo Herz dressed in an adicolor tracksuit which made 6000 ETH in sales. A utility for this NFT allows redeeming exclusive merch by burning the NFT. The next project was Adidas for Prada resource in partnership with Prada. It featured user-generated content and shared ownership alongside contributors, making a total of 30 ETH. Next, Adidas launched Ozworld along with Ready Player Me creating the world’s first personality-based AI-generated avatars. It allowed a lot of customisation and interoperability for 1400 apps and games as well as physical footwear. All of these projects add up to 10,587 ETH which amounts to 15.7 M USD. Other programmes include the company’s association with Meta Capsule, airdropping 24K NFTs, and acquisition of land in The Sandbox Metaverse. A collaboration with CoinBase and Stepn allowed the participants to earn crypto for walking, jogging and running. Adidas has discords and accounts on Twitter and Instagram amassing large followings. All of this shows how the footwear company has set an example as one of the first and most successful brands on Web3.

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