Sportswear giant Adidas has joined forces with the move-to-earn game Stepn to unveil a collection of high-priced virtual running sneakers in the form of Solana NFTs.
Stepn, the move-to-earn game, recently revealed a collaboration with Adidas to introduce a special NFT collection called the Stepn x Adidas Genesis Sneakers. These virtual sneakers will be integrated into the fitness-focused game.
This collaboration marks the beginning of a series of joint ventures between Stepn and Adidas. Over the course of a year-long partnership, both companies plan to release more NFTs along with physical merchandise.
Shiti Manghani, CEO of Stepn, emphasized the significance of this partnership, stating, “This collaboration between Stepn and Adidas highlights the potential of seamlessly earning rewards both in the virtual and real worlds.
The fusion of physical and digital realms in a partnership between a widely-used lifestyle app and a global brand like Adidas signifies the evolution of lifestyle rewards.”
The sneakers will be priced at 10,000 GMT (Stepn’s native token), equivalent to approximately $2,500 at the current exchange rate, as reported by CoinGecko.
The initial release of the Genesis Sneaker NFTs will be through Stepn creator FSL’s NFT marketplace MOOAR, starting on Wednesday, April 17. The distribution process for these first 200 NFTs will be detailed on Twitter by Stepn’s official account.
Following this, another 790 NFTs will be made available through a public raffle sale from April 18 to 21, with winners chosen every 24 hours. Additionally, 10 NFTs will be reserved for marketing purposes, according to a representative speaking to Decrypt’s GG.
Stepn is a FitTech app where users can earn cryptocurrency rewards by walking, jogging, or running, facilitated by owning virtual sneaker NFTs.
The amount of crypto rewards a user can earn is determined by their sneaker’s “energy” level. A lower energy level means fewer minutes of earning potential. Each unit of energy translates to five minutes of running time, with higher-quality sneakers offering bonus energy—legendary sneakers, for instance, provide +4 energy.
Details about the energy level of the Stepn x Adidas Genesis Sneakers have not been disclosed yet, leaving runners curious about their competitive advantage.
This announcement follows Stepn’s recent $30 million airdrop campaign, which concluded last week. During this campaign, players received airdrop points that could be redeemed 1:1 for Stepn’s native GMT token. More than 100 million airdrop points were allocated to holders of badges and Genesis NFTs.
