May 22, 2024
Adidas and STEPN Unveil Collaborative NFT Collection
NFT

Adidas and STEPN Unveil Collaborative NFT Collection

Adidas and blockchain gaming platform Stepn have announced an innovative NFT collaboration that aims to transform move-to-earn applications and expand the global adoption of the Find Satoshi Lab (FSL) ecosystem.

This partnership combines the iconic sportswear brand and the blockchain-based fitness app for an exciting new project.

Launch of STEPN x Adidas Genesis NFT Collection

The collaboration will see the release of a collection of 1,000 unique STEPN x Adidas Genesis non-fungible tokens (NFTs) on April 17 through the MOOAR marketplace.

This exclusive NFT drop represents a significant step forward for both companies, as they leverage their combined expertise to create a unique user experience.

Integrating Across Brands’ Apps

In an interview with Forbes, STEPN CEO Shiti Manghani shared insights into the integration across both brands’ apps, highlighting a “product-level collaboration to motivate and incentivize people for running.”

The partnership aims to seamlessly blend virtual and real-world experiences, allowing users to move and learn simultaneously.

“The collaboration underscores how powerful it is when you can move and earn in both the virtual and real world simultaneously,” said Manghani.

Token Performance and FSL Points Airdrop

The news of the partnership with Adidas saw the project’s native token, GMT, experience a slight uptick in value, trading at around $0.26 with gains.

However, the token remains 93% down from its all-time high in April 2022, when it reached a price of $4.11, according to CoinMarketCap.

Source: CoinMarketCap

In addition to the NFT collaboration, the STEPN team previously announced an FSL points airdrop, distributing points based on the shelf life of digital Genesis sneakers.

There will be three levels of distribution: those who have owned sneakers for over 24 months will receive the most points, the second level covers 12-24 months, and the third level is for 6-12 months.

This new collaboration between Adidas and Stepn marks an exciting development in the move-to-earn space, potentially reshaping the industry and bringing more users into the fold.

Image: Wallpapers.com

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