Sportswear giant Adidas and luxury car manufacturer Bugatti have unveiled an exclusive collaboration, featuring limited edition boots available through a non-fungible token (NFT) auction.
The “Adidas X Crazyfast Bugatti” boots showcase a black and blue design, adorned with two defining phrases, symbolizing each company’s core values. “Impossible is Nothing” embodies Adidas’ relentless pursuit of performance, while “Create the Incomparable” represents Bugatti’s commitment to crafting hyper-sports cars.
Limited to just 99 pairs, these boots will be made available through an auction hosted on Adidas’ Web3 platform, Collect, running from November 8 to 11.
Bidding, starting at 0.2 ETH (approximately $364 at the time of writing), will be exclusively in cryptocurrency, with an option for quick traditional currency conversion facilitated through a collaboration with MoonPay.
Auction winners will be rewarded with an exclusive digital collectible (ERC1155) shoebox, which can be redeemed via Adidas Collect for both the physical pair and its digital twin starting November 13.
The NFT shoebox will be replaced by the digital twin version (ERC721) during the redemption process, which will remain open for two weeks, closing on November 27.
ALTS by Adidas and Asprey Bugatti NFT holders will receive a special benefit — a 10% premium added to their bidding price. This means that a bid of 1 ETH, for example, will effectively be 1.1 ETH.
Shipping for the physical boots is expected to begin in early December 2023.
While this marks the first Web3-related collaboration between Adidas and Bugatti, both companies have previously ventured into the world of NFTs separately.
Bugatti partnered with Asprey in April to launch generative Egg NFTs on the Bitcoin blockchain. In January, Shiba Inu and Bugatti Group achieved a sellout of their limited edition NFT collection in just 110 seconds.
Adidas, on the other hand, has launched several NFT initiatives, including a partnership with Moncler, during which they released 3,000 NFTs that were fully claimed in less than 24 hours.