An advanced announcement issued by Adidas revealed that the footwear company has collaborated with the New-York based digital collectible artist FEWOCiOUS to create unique sneakers. The report revealed that Adidas and FEWOCiOUS would leverage the vast experiences into developing Trefoil Flower, a nonfungible token (NFT) mint pass.
The partners projects that by June 22, around 4500 Trefoil flowered NFT passes will be available on the OpenSea platform. The new NFT mint pass will be used to purchase the physical Adidas Originals Campus oos sneaker. The NFT holders will be allowed to mint their digital assets from August.
Adidas Partners with FEWOCiOUS
In September, the Adidas team plans to allow customers to ship the physical sneaker. As per the report, the physical sneaker will have an NFC tag which utilizes advanced technology for verification purposes.
At the primary presale, the digital sneaker will be grouped into three allowlist tiers. The grouping will allow the consumer to garner numerous sales benefits.
At the tier one level, the holders of Adidas NFTs will enjoy early access benefits, including price discounts. While tier two, the consumer will have presale access priced at regular cost. Tier one and two will only be available to holders of ALTS by Adidas NFT, which consists of either DECOS ALT[er] Ego or SOLES ALT[er] Ego. Also, the holders of FEWOCiOUS Paint Drops NFTs will be allowed to participate.
Consecutively at the tier three level, holders of Gmoney’s Admit One, Doodles, Inhabants, and Bored Ape Yacht Club, among other NFTs, will mint their digital collectibles. The NFT holders will mint their digital assets at different rates across the three tiers. At tier one, the minting prices average to 0.2 Ether, equivalent to $350.
Why are Footwear Companies Pursuing NFT and Web3 Technologies?
On the contrary, at tier two and three, the minting prices will be 0.25 ETH which translates to $430. From June 22 at 2,p.m. the public will be allowed to mint the passes at 0.25 ETH. Afterward, the Trefoil Flower Mint owners will receive physical and digital sneakers.
In April, the Adidas team launched the ALTS NFT collection to boost the user experience. Before then, Adidas collaborated with Prada to create digital wearables.
On the other hand, FEWOCiOUS, commonly known as Victor Langlois, has been developing NFT collections from an early age. The 20 years old digital artist worked with Nike to create the RTFKT. He has also made joint efforts with well-known auction houses Christie and Sotheby to explore the Web3 sector.
Recently FEWOCiOUS generated $50 million from the sale of NFTs. An interview with Erika Wykes-Sneyd, the head of Web3 at Adidas, stated that Elon Musk’s latest move in the crypto sector motivated the footwear company to invest in NFTs. Wykes-Sneyd stated that the Adidas team plans to launch a token-gated sneaker soon.
Since 2021 Adidas has actively pursued new opportunities in the NFT space. It was reported that the Adidas team created Indigo Herz, an idea inspired by purchasing Bored Ape NFT.
Following Adidas commendable achievement, its rival Puma has recently launched a digital sneaker, Ball’s GutterMelo MB.03. Puma collaborated with the NBA player LaMelo Ball to develop the new sneaker, which will be launched before the end of June.
According to Puma, the sneaker will be priced at $175, purchased through NFT passes.