Adidas is staying committed to the metaverse despite a shift in interest away from NFTs and digital spaces, with several companies retreating from these realms. A recent high-profile withdrawal includes the termination of Starbucks Odyssey’s Web3 project.
In contrast, Adidas is maintaining its involvement in the metaverse through a partnership with the move-to-earn platform STEPN. They’ve introduced 1,000 NFTs representing Adidas sneakers on the Solana blockchain, priced at around $2,400 each.
Evgeniy Medvedev, with experience from NFT company Rarible, is leading Adidas’ Web3 efforts. Additionally, Adidas featured in “Crypto The Game,” offering its tracksuits as prizes.