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adidas is making their direction very clear and that is Web3. With the recent announcement of their Sandbox Land purchase and Coinbase NFT collab, now their taking it one step further by expanding its journey into the metaverse with a new four-way collaboration with Bored Ape Yacht Club, Pixel Vault’s Punks Comic and crypto investor Gmoney.
This morning, the collaborators took to social media to reveal images of a forthcoming collaboration with the sportswear company. The posts from their respective accounts only revealed sneak peek imagery with no additional details about the nature of the collaboration.
Earlier this month, adidas expanded its metaverse activity with the launch of a POAP (Proof of Attendance Protocol) on the adidas CONFIRMED app. The new launch offers digital tokens to select users, that works like a loyalty badge which will have future utility yet to be announced. It was initially offered to CONFIRMED app users and then subsequently opened to the public for free redemption.
“This digital collectible is our way of rewarding you for following your curiosity as we explore this new age of originality together,” said adidas in a statement. “This token proves you were here from the beginning of this journey. Keep it safe — it may come in handy.”
With today’s initial announcement, stay tuned for more information about the forthcoming four-way collaboration. A huge leap for a massive brand that will spearhead the adoption of web3 for more brands and effectively onboard more users of web3. Which brand do you think will be next to enter the space?
What is the Bored Ape Yacht Club?
For those that are not familiar with the NFT space, The Bored Ape Yacht Club (BAYC) is renowned as a collection of cartoonish apes. The avatars have taken the world of NFTs by storm. 10,000 NFTs are part of the collection of Bored Ape Yacht Club, which is designed by a US-based Web3 company known as Yuga Labs.
The project is similar to Larva Labs’ CryptoPunks, but "cheaper". The apes of BAYC, pictures of which are minted on Ethereum blockchain, have inspired many other NFT art and artists. Their value has risen astonishingly high in a matter of months.
The parabolic rise in popularity has is also due to the number of big-name celebs and influencers scooping up an ape to represent their digital identities, even changing their profile pictures on Twitter and Instagram with their apes. Some big names include, Jimmy Fallon, Stephen Curry, Post Malone, and Future. The icing on the cake is the Rolling Stone magazine creating their first digital magazine cover with an ape front and centre. Some see BAYC as the metaverse version of Supreme, and that's no surprise due to how desirable these apes are.