Adidas and the Web3 app STEPN have collaborated on a special-edition footwear line that combines digital and physical exercise.
In a recent announcement, the Solana-based move-to-earn app STEPN and the worldwide footwear company Adidas collaborated to launch the STEPN x adidas Genesis Sneakers, a limited-edition line of sneakers comprised entirely of non-fungible tokens (NFTs).
When the collection launches on Wednesday in the MOOAR marketplace, customers will be able to choose between digital and tangible incentives.
The STEPN x adidas Genesis Sneakers collection has 1,000 one-of-a-kind NFTs. According to Decrypt, 200 STEPN customers will have early access, while 790 will be given away in a lottery to the general public.
Marketing will make use of the other ten NFTs. There will be two sales sessions for the NFTs, with each leg selling for 10,000 GMT (about US$2,500) to encourage fair distribution.
The move-to-earn app by STEPN rewards NFT holders with GST, the app’s in-game money, for walking and running.
The game’s utility token, GST, is available on other chains, including Binance’s BNB chain, but the market capitalization of the Solana-based coin is the biggest at US$39 million.
Following the announcement of the agreement, GST on Solana increased by US$0.039, although it has since decreased to US$0.34. Based on statistics from CoinGecko, the cryptocurrency has a maximum value of $8.51 USD. In the last day, GMT, the project’s governance token, has dropped 11% to $0.23.
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