Adidas Web3 lead Erika Wykes-Sneyd shared some of the ideas the brand is exploring to connect its users to Web3.
Adidas is one of the world's biggest brands that is investing in blockchain technology and Web3. That's why the sportswear brand has put new ideas on the table to ensure its digital future.
During an interview with Decrypt at the NFT Paris conference, Erika Wykes-Sneyd, the sports brand’s Web3 lead, discussed several of the Web3 ideas Adidas is currently exploring to strengthen its communities.
While Wykes-Sneyd didn't entirely rule out the possibility of Adidas launching its own cryptocurrency, he said the company is focusing more on creating exclusive products that help connect users to new technologies while creating greater utility for everyone.
Adidas’ Journey into Blockchain and Web3
Adidas has had a major involvement in the digital industry, to the point of being considered one of the brands that has innovated the most in blockchain. To date, Adidas has launched various collections of NFT tokens, such as “Into the Metaverse”, “Virtual Gear” and “Adidas: Prada, Re-Source”.
The brand has also created its own metaverse, adiVerse, on the Ethereum-based blockchain platform The Sandbox, and has partnered with companies such as Coinbase and projects like Bored Ape Yacht Club.
Adidas, however, wants to continue disrupting the crypto/blockchain industry, Wykes-Sneyd said, so the brand is considering new ways to boost the development of its digital communities with strategies that allow users to access specific and exclusive products.
Wykes-Sneyd said Decrypt reported that Adidas may consider implementing token tactics when releasing exclusive drops for specific communities and specific cryptocurrencies.
This way, users would be whitelisted and would not have to compete against bots to acquire a particular NFT at launch. “They can beat the bots and not have to play the game of waiting for the NFT to come out of the shoe and lose the bid,” Wykes-Sneyd said.
The big brands at NFT Paris 2023
Other major global brands present at NFT Paris 2023 included Shopify, Warner Bros, L'Oreal and Playboy, who have also embarked on a journey towards NFTs, blockchain and Web3.
Likewise, companies from the crypto industry, such as Yuga Labs, Dapper Labs, ImmutableX, The Sandbox, Salesforce, Andreessen Horowitz, MoonPay, among others, were also present during the NFT conference held in Paris.
Continue reading: Blockchain developers remain optimistic about the future of Web3
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