Adidas inexplicably decides 2024 is the right time to jump back on NFTs
Adidas is reportedly teaming up with Stepn, a web3 company that promised to reward users who engaged in physical activity like walking and running. The collab, announced this morning by Stepn, kicks off with the release of 1K Adidas-styled NFT sneakers. Current price: roughly $2,500 a pop.
Stepn made waves back in 2022 as a pioneer of “move-to-earn” games.
The solana-based app rewarded active users with tokens — though they’d have to have purchased a pair of NFT sneakers first. Some early adopters bragged about making hundreds of dollars a day by walking, but critics said the game relied on Ponzi-scheme like economics.
The Stepn-Adidas “phygital” sneakers release hits as the NFT market suffers a 30-day period that’s seen trading volumes fall nearly 40%.
The solana-based app rewarded active users with tokens — though they’d have to have purchased a pair of NFT sneakers first. Some early adopters bragged about making hundreds of dollars a day by walking, but critics said the game relied on Ponzi-scheme like economics.
The Stepn-Adidas “phygital” sneakers release hits as the NFT market suffers a 30-day period that’s seen trading volumes fall nearly 40%.
