STEPN Collaborates with Adidas to Launch New NFTs and Web3 Products

On April 15, 2024, the renowned move-to-earn project STEPN announced a partnership with the giant footwear and sportswear brand Adidas.

The year-long collaboration promises to kick off with a collection of 1,000 NFTs titled "STEPN x Adidas Genesis Sneakers," inspired by Adidas' most iconic running shoes.

"This Genesis collection marks the first collaborative effort in a series of events between STEPN and Adidas under a year-long partnership, promising additional NFT drops, physical products, as well as 'phygital' (physical and digital combined), wearable items in the future."

The NFT collection is set to debut on April 17, 2024, through Mooar, STEPN's NFT trading platform.

STEPN, a Web3 application combining elements of GameFi and SocialFi, allows users to Move & Earn by equipping themselves with NFT Sneaker assets from the project to start earning tokens through outdoor walking and running activities.

Launched in late December 2021, STEPN quickly popularized the Move-to-Earn and FitFi (fitness combined with finance) trends and became one of the most trusted apps on Solana. This model has since been adopted by other apps like Genopets and Dotmoovs, leveraging geolocation data, physical sensors, augmented reality, NFTs, and other blockchain technologies to incentivize increased physical activities among participants.

This isn't STEPN's first collaboration with a sports-focused company like Adidas. In early 2022, the project partnered with the globally renowned running shoe brand ASICS to launch a collection of 1,000 NFTs featuring Walker, Jogger, Runner, and Trainer shoes exclusively on BinanceNFT.

In August 2022, STEPN also joined forces with the Spanish football club Atlético de Madrid and the cryptocurrency exchange platform WhaleFin to release an NFT sneaker collection.

The GMT token price has seen moderate stability following STEPN's news, hovering around $0.26 USD, marking a 3% increase in the past 24 hours.

Graph showing the 1-hour chart of the GMT/USDT trading pair on Binance at 06:50 PM on April 15, 2024.

Adidas, a leading footwear and sportswear manufacturer, has previously ventured into the Web3 market. Since 2021, Adidas has been drawn into this market through the Metaverse trend after seeing its competitor Nike pioneering virtual worlds in the Roblox game.

Since then, Adidas has actively expanded its footprint in the NFT/Metaverse space, launching several related products:

• December 17, 2021: Introduced 30,000 NFTs from the "Into the Metaverse" collection, a collaboration between adidas Originals, Bored Ape Yacht Club (BAYC), gmoney, and PUNKS Comic, ranking among the top NFTs on OpenSea at that time.
• January 2022: Initiated a new NFT project on Polygon in collaboration with the premium Italian fashion house Prada.
• November 2022: Successfully released "Virtual Gear" wearable NFT devices.
• April 2023: Launched the dynamic NFT collection "ALTS."
• June 2023: Teamed up with NFT artist FEWOCiOUS to debut the "The Art of Play" NFT collection.