Adidas NFT Sneakers Priced at Over $2K to Debut on Stepn

Adidas has teamed up with the move-to-earn platform Stepn to launch a unique collection of Solana-based non-fungible token (NFT) sneakers.

Announced on Monday, the Stepn x Adidas Genesis Sneakers are the first release in a series of co-branded activities between the two companies, which will include both digital assets and physical merchandise.

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The sneakers will debut on Stepn's NFT marketplace, MOOAR, priced at 10,000 GMT—Stepn's native token—roughly equivalent to $2,200 at the time of writing.

The first drop of 200 Genesis Sneaker NFTs is scheduled for Wednesday, April 17; however, this drop will be exclusive to the most loyal members of the Adidas and Stepn communities. Further details on who will get the priority were explained in the announcement post on X.

Following the initial drop, another 790 NFTs will be available through a public raffle sale from April 18 to April 21, with daily draws to determine the winners. An additional 10 NFTs will be designated for promotional purposes.

Stepn is a fitness app where players who purchase an NFT sneaker can earn crypto by walking, jogging, or running. The earnings depend on the sneaker's "energy" level—lower energy means that you can run for fewer minutes and earn less. There is currently no information on the energy level of the Stepn x Adidas Genesis sneakers.

Stepn CEO Shiti Manghani emphasized the dual benefits of engaging in physical activity while earning digital rewards, adding:

That such a physical and digital - or 'phygital' - partnership between the most widely used lifestyle app and a global brand like Adidas are now a reality indicates the direction lifestyle rewards are going.

This collaboration, as both companies continue to explore and expand their product offerings, could pave the way for more interactions between the lifestyle and technology sectors.

It is not Adidas' first rodeo in Web3; in September 2023, the company launched a digital artist residency program focused on NFTs.

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