Adidas, the renowned sports and fashion brand, is considering launching token-gated sneakers as part of its foray into Web3, according to Erika Wykes-Sneyd, head of Web3 at Adidas. The move would go beyond traditional cryptocurrency payment options and offer exclusivity to specific communities using unique currencies.

Adidas has already begun experimenting with cryptocurrencies, with its recent World Cup trailer featuring Bored Ape NFTs, including a Bored Ape Yacht Club (BAYC) character named Indigo Herz in a recent campaign. This suggests that the sports brand is open to using its early cryptocurrency experience to promote the community and do unique digital placements.

“There are some interesting payments in Apecoin and some other upcoming coins, and it might be even more surprising if Adidas were to do an exclusive drop for a specific community and a specific currency,” Wykes-Sneyd said. “I think that’s something that might be more attractive to us.”

Adidas has always been at the forefront of innovation, and the move towards Web3 is no different. With its expertise in creating exclusive products and communities, token-gated sneakers could offer a new level of exclusivity and value to its loyal customers.

However, the move comes with risks, as cryptocurrencies remain a volatile market. The company must ensure that it conducts thorough research and risk assessments before launching any product that involves digital assets.

Adidas has not yet made any official announcement regarding the launch of token-gated sneakers, but it’s clear that the brand is exploring new ways to integrate cryptocurrencies into its business strategy.

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Filed under: Bitcoin - @ February 26, 2023 2:35 pm