As the metaverse and NFT craze shows signs of waning, some companies are shifting their focus away from these digital ventures. Starbucks, for example, recently shut down its Web3 project, Odyssey. However, Adidas has chosen to double down on its commitment to the digital realm by partnering with the move-to-earn app, STEPN.
This collaboration has led to the creation of 1,000 exclusive NFTs that represent Adidas sneakers and are integrated into the Solana blockchain. These NFTs are crucial for anyone looking to participate in the rewarded activities of STEPWOMEN, and they are being sold for approximately 10,000 GMT (around US$2,400 based on current exchange rates).
Adidas’s head of Web3 initiatives, Evgeniy Medvedev, brings valuable expertise from his time at NFT company Rarible. Additionally, the brand has made its presence felt in the gaming world through its involvement in “Crypto The Game.” In this Web3-themed game show, participants competed for the chance to win Adidas outerwear in a special challenge.
Meanwhile, Justin Sun, the founder of the TRON platform, made waves with his collaboration with renowned composer Hans Zimmer on a musical project. This partnership is a groundbreaking fusion of blockchain technology and musical creativity and was inspired by a detailed meeting between Zimmer and Sun early last year.
In the wider cryptocurrency market, sales of digital art using Bitcoin initially reached an impressive US$24 million before experiencing a decline to half that amount, surpassing transactions in Ethereum. Additionally, PayPal has announced plans to remove NFTs from its Purchase Protection Program starting May 20.
Please note that the views and opinions expressed in this article, including those of the author and any individuals mentioned, are solely for informational purposes and do not constitute financial or investment advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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