Adidas partners with Tokenproof to offer NFT holders preferred access to select products on its Confirmed app, where the company releases its most sought-after items.
Adidas’ web3 journey
The partnership marks Adidas’ latest move into the web3 space, following its collaboration with Bored Ape Yacht Club, Gmoney, and Punks Comic.
Adidas’ new web3 project, Into the Metaverse, features sneakers and clothing produced with web3 partners. Customers must have Adidas NFTs and connect their wallets to the Confirmed app to buy Adidas’s most popular products.
Before signing the new partnership deal, Adidas collaborated with Tokenproof on token-gating events recently held for its web3 community. Guests who checked in for Adidas’ NFT NYC event at its New York flagship last month were airdropped a 20% discount redeemable in-store with the Tokenproof app.
The benefits of token-gating
Token-gating is a way to reward loyal fans and collectors and make sure they get all the products they want. It also allows Adidas to tailor clients’ offers and invitations depending on their interests and preferences.
Customers need a crypto wallet and the Tokenproof app to use this technology. This may be difficult for some consumers who are unfamiliar with web3. However, Tokenproof is working to simplify the process by integrating a wallet feature into its app.
Fonz Olvera, founder, and CEO of Tokenproof, stated that this technology would create more direct and meaningful ties between brands and customers.
“I truly believe that marketing is all about orchestrated touchpoints and not these touchpoints in isolation,” Olvera said. “
It just shows you how we can further incentivize participation based on previous participation with the brand, and we can do this digitally or in the real world. This creates numerous opportunities.”
Adidas’ web3 vision
Adidas’ web3 studio co-founder Erika Wykes-Sneyd said this technology would also give better authenticated and distributed client data. This would allow Adidas to understand its customers better and provide them with greater value.
Adidas is among the first companies to implement token-gating in its app. It demonstrates the company’s web3 adoption and fashion industry innovation.
