In a time when the hype around the metaverse and NFTs seems to be waning, several companies are starting to distance themselves from these digital ventures. One notable example of this shift is Starbucks’ decision to shut down its Web3 project, Odyssey. However, Adidas has chosen to double down on its commitment to the digital world by partnering with the move-to-earn app, STEPN.
This collaboration has led to the creation of 1,000 exclusive NFTs that represent Adidas sneakers and are integrated into the Solana blockchain. These NFTs are crucial for individuals who want to participate in the rewarded activities of STEPWOMEN and are being sold for around 10,000 GMT (approximately $2,400 USD based on current exchange rates).
Evgeniy Medvedev, the leader of Adidas’ Web3 initiatives, brings valuable experience from his previous work at NFT company Rarible. Additionally, Adidas has also made a mark in the gaming world through its involvement in “Crypto The Game.” In this Web3-themed game show, participants competed for the chance to win the brand’s outerwear in a special challenge.
Meanwhile, Justin Sun, the founder of the TRON platform, made headlines with his collaboration with renowned composer Hans Zimmer on a musical project. This partnership represents a significant milestone in the fusion of blockchain technology and musical creativity, and it was inspired by a detailed meeting between Zimmer and Sun in early 2021.
In the broader context of the cryptocurrency market, the sales of digital art via Bitcoin surprised many by reaching approximately $24 million before experiencing a decline to half of that amount. These sales even surpassed transactions in Ethereum. On another note, PayPal has announced changes to its policies, with plans to remove NFTs from its Purchase Protection Program starting from May 20.
Disclaimer: The views and opinions expressed by the author or any individuals mentioned in this article are solely for informational purposes and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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