Friday, June 9

Adidas and Prada launch NFTs to educate their fans on digital ownership

Adidas and Prada join forces to bring the community of fans of their brands closer to the universe of NFTs and digital property. The German sports apparel and footwear multinational and the Italian fashion firm have launched “Adidas: Prada, Re-Source”. Both companies will create a unique NFT, together with 3,000 fans and in collaboration with digital artist Zach Lieberman, as they explain in their official Web. The project allows the community of fans of both brands to contribute to the creation of a large-scale work of art through the game. Brands also say that their followers will be able to discover the transformative benefits of web3, co-creation, digital ownership and NFTs.

Adidas, the transformation of a brand with blockchain: NFTs, metaverse and cryptocurrencies

Adidas, Prada and the NFTs

“Adidas: Prada, Re-Source” is the first collaborative art creation project powered by two major fashion brands. The objective is to create a bridge that connects the community of users and creators with the new Web3. To participate, those interested may register on a waitlist or waiting list, which opens today, Monday, January 24, for 24 hours.

3,000 tiles for 1 NFT

Adidas and Prada will offer 3,000 people the opportunity to participate in the design of a unique and exclusive NFT, created by renowned artist Zach Lieberman. Each person will be able to create an individual work or “mosaic”, which will be used by Lieberman as the basis for the design of the final work. Finally, the work will be tokenized on the Ethereum blockchain as an NFT, in the ERC-721 standard.

The 3,000 quotas that the brands will give to their community will be divided between the holders of the Adidas Originals NFTs: Into the Metaverse; the metaverse created by Adidas and among 1,000 artists and content creators. They will be selected from among those registered on the waitlist. Adidas pointed out that its new project is a way to reward holders of the brand’s NFTs who have acquired their tokens before January 20.

The list of fashion brands that already parade in the metaverses

Currently, there are more than 21,000 Adidas NFT holders, so less than 10% will be able to be part of this collaborative digital art project.

Digital property of the creators

In addition to the privilege of participating in the design of the exclusive NFT together with the renowned artist Lieberman, the 3,000 participants will be able to receive income from the auction of the digital work. The companies explain that “Adidas: Prada, Re-Source” allows the community to contribute to the creation of a large-scale work of art. As well as taking advantage of new monetization opportunities by asserting their immutable digital property rights, thanks to the attributes of blockchain technology and NFTs. The final work will be auctioned as NFT in SuperRare from next Friday, January 28.

Art, fashion and new communities

The boom that NFTs experienced in the last year has prompted several world-renowned brands to fully enter the virtual world. However, Adidas and Prada want to go one step further and create new education and training tools. That allow everyone to be empowered through these new and innovative technologies. In this way, the participants of the collaborative art of Adidas and Prada will be able to receive 15% of the income obtained in the auction. Lieberman will receive 5% of the proceeds and the remaining 80% will be donated to the NGO Slow Factory. In order to create new communities of art, fashion and other industries connected to the Web3.

Adidas partners with cryptocurrency exchange Coinbase

In late 2021, Adidas teamed up with three major NFT projects to disrupt the metaverse and NFTs. Also, he entered into an alliance with the cryptocurrency exchange Coinbase and bought a plot of land in The Sandbox to create his own virtual world.

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