Sportswear giant Adidas has partnered with move-to-earn game Stepn to release some pricey virtual running sneakers as Solana NFTs.
Adidas and blockchain startup Stepn have announced a new NFT partnership that aims to guarantee the global adoption of the Find Satoshi Lab (FSL) ecosystem and transform move-to-earn applications.
The team plans to produce a batch of 1000 exclusive STEPN x Adidas Genesis non-fungible tokens (NFTs) as part of the partnership.
The NFT collection will debut on the MOOAR marketplace on April 17. The connection will cover all of the apps from both companies, including “a product level collaboration to motivate and incentivize people for running,” according to STEPN CEO Shiti Manghani in remarks to Forbes. The CEO of STEPN, Shiti Manghani, said:
“The collaboration underscores how powerful it is when you can move-and-earn in both the virtual and real world simultaneously.”
The announcement of a partnership with Adidas was met with a subdued surge in GMT, the project’s basic token. According to CoinMarketCap, it was trading at about $0.26 with gains at the time of writing.
The token has increased recently; however, even with this increase, it is still 93% behind its peak price from April 2022, when GMT hit $4.11.
The STEPN team previously announced the FSL points airdrop. The distribution of points will be contingent upon the duration of the digital Genesis sneakers’ shelf life.
Three tiers will exist: the highest level will go to people who have owned sneakers for more than 24 months, followed by those who have owned them for 12 to 24 months and those who have owned them for 6 to 12 months.
