KEY POINTS
After weeks of anticipation within the community, the move-to-earn app STEPN has finally unveiled its newest long-term partner: Adidas alongside its Web3 project ALTS by Adidas. The collaboration kicks off with the launch of a collection of non-fungible token (NFT) sneakers.
As per a recent post on X (Twitter), the collection includes 1,000 NFT sneakers that draw inspiration from Adidas’ physical sneaker models.
These NFT sneakers, minted on the Solana blockchain, will be distributed through a raffle on STEPN’s marketplace, Mooar, beginning this Wednesday, April 17. Each NFT will be priced at 10,000 GMT, roughly $2,500.
Initially, access to the raffle will be restricted to members of the Adidas and FSL communities, with the first day reserved for those on an allowlist. Holders of NFTs will receive exclusive perks, which have not yet been disclosed.
This move follows closely on the heels of STEPN’s announcement of a $30 million airdrop campaign, designed to reward loyal players and holders.
Originally launched in 2021 by FLS, STEPN seeks to revolutionize fitness by rewarding users for their walking and running endeavors.
According to the platform’s data, STEPN already boasts a user base exceeding 5 million registered individuals, with over 460,000 monthly active users, and a cumulative distance of more than 295 kilometers covered using the app.
The collaboration with Adidas is poised to extend its outreach further. However, this isn’t the first significant partnership STEPN has forged with a major sports brand.
In May 2022, it unveiled a similar collaboration with ASICS, resulting in the release of a collection of ASICS-branded NFT sneakers. Another noteworthy partnership occurred in October 2023 when STEPN teamed up with DJ Steve Aoki for a limited-edition NFT collection, featuring 300 digital sneakers.
For Adidas, this partnership adds to its array of initiatives in the Web3 space. Having been among the earliest sports brands to venture into the space in 2021, Adidas has since conducted many NFT drops, with its inaugural drop yielding earnings of $23 million. Subsequent drops have seen collaborations with other key players such as Bugatti and Moncler.
