Fashion brand

Adidas NFT Digital Fashion Holders

In December last year, Adidas launched its NFT offering by announcing an NFT collection of physical and digital products, revealed through comics and created in collaboration with BAYC, Gmoney and Punks Comics. Members of its drop app (called Confirmed) were granted early access to purchase “Into the Metaverse” NFTs, which promised to grant access to wear digital items, purchase physical products, and access to experiences. He then partnered with Prada on a project that invited the community to submit selfies, resulting in a large-scale artwork that shared revenue with contributors. Adidas’ fall into the metaverse has already resulted in considerable side deals.

Adidas is one of the highest ranked brands among branded NFTs, according to a recent data aggregation. Although Nike is far ahead thanks to its acquisition of Rtfkt, with revenues of over $185 million in August, Adidas’ revenues of over $11 million (also in August) are not to be overlooked. Puma, for example, earned around $1.3 million in primary and secondary sales. In secondary sales, Adidas made over $176 million (compared to Nike’s over $1.3 billion), but beat all other branded NFT offerings studied.

Earlier this month, Puma brand manager Adam Petrick said Business in vogue that a digital-first design philosophy had already offered creative inspiration to its in-house talent. Rtfkt, meanwhile, has begun physically producing community-informed plays. Nike, meanwhile, plans to ask its Web3 audience for feedback on designs, with the eventual aim of sharing royalties. All of this points to a huge acceleration in creativity and co-ownership.

The virtual collection “represents an idea of ​​wearables that can transcend time and space, a highly diverse community, and a level of usefulness that can be explored and even discovered as worlds and avatars take on new forms” , Galway said.

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Hazel J. Edmonds

The author Hazel J. Edmonds