2021 is nearly over, and what a year it has been. While there have been many events and trends that stand as major stories of the year, there’s no arguing the fact that the big story has been non-fungible tokens. That’s right, 2021 has been the year of NFTs and as the year draws to an end, excitement in the NFT community isn’t slowing one bit!
In fact, yet another major brand has announced its entrance into the metaverse.
Adidas recently announced the Adidas Originals collection and purchased land in the Sandbox metaverse. Here’s what’s happening:
Adidas Jumps Into Web3
As mentioned above, Adidas is the next big brand to jump into the Web3 community with the launch of a collection known as Adidas Originals and the purchase of a plot in the Sandbox metaverse.
Of course, the virtual land purchased in the metaverse will act as a marketing hub for the company, an area where it will be able to address a captive audience and promote its products, both digital and in real life.
The company is making waves with its dive into the sector too.
According to its announcement, Adidas is partnering with major brands to make its entrance into the metaverse a successful one. In fact, a few names in the consortium of partners created by the company include the Bored Ape Yacht Club, Gmoney, and the team behind Punks Comic. Moreover, as with these popular collections, ownership of Adidas Originals will come with some perks.
In fact, the company said that those who own pieces of the collection will have exclusive access to Adidas Originals experiences and products. What exactly does that mean? It means that owners will have access to virtual wearables for blockchain-based gaming and access to physical products to match.
Moreover, those that get involved early will have the chance to redeem a Proof of Attendance Protocol, or POAP, NFT status badge that will commemorate their presence with Adidas at the beginning of their metaverse journey.
Of course, as has been the case with many celebrities and brands, the company has also invested in its own Bored Ape Yacht Club NFT in order to join one of the most active communities in the industry. The Adidas Ape has been named Indigo Herz.
As mentioned above, Adidas also purchased a plot of virtual land inside The Sandbox. It announced that it’s currently working to fill this plot of land with exclusive content and experiences.
Why Would Adidas Want to Jump Into Web3?
We’ve seen brand after brand announce their entrance into the Web3 community, and all for the same reasons, including Adidas. NFTs give brands a new way to communicate with their audience, and that communication is valuable. After all, marketing is a massive industry and this is a great way to go about getting consumer attention. Think of NFTs for corporations like this as early banner ads as the internet started to become monetized. Essentially, we’re looking at new-age advertising efforts that bring consumers further into the brand’s ecosystem.
In a statement, Scott Zalaznik, chief digital officer at Adidas, had the following to offer:
“Blockchain is one of the most innovative technologies of this generation. We see it unlocking boundless potential to connect with our members. The foundation we are building with Web3 will lead to new creative opportunities for partnerships, engagement through digital goods, and a path towards a more inclusive future.”
The above statement was followed up by Erika Wykes-Sneyd, vice president of marketing and communications at Adidas Originals with the following:
“As part of our ambition to celebrate ideas that are defining a new age of originality, we’ve landed at the forefront of creativity, which is the open metaverse. It’s a natural place for Adidas Originals to enter: a wild world where possibilities are truly limitless and where anyone can express and be rewarded for their most original ideas.”
Finally, Gmoney said:
“It’s so refreshing to see a culturally influential brand like Adidas Originals work so closely hand-in-hand with the NFT community. At every step, they’ve included the right partners from the crypto, metaverse, and NFT community and listened to their thoughts at an early stage.”
The Bottom Line
The bottom line here is simple. As more and more big brands dive into the NFT industry, they’re bringing their massive audiences into the fray with them while tapping into new opportunities. This process will continue to lead to a growing metaverse and interest in digital asset ownership.