Adidas and Prada go Web3 with community-focused NFT project

Iconic fashion brands Adidas and Prada have teamed up to create a “first-of-its-kind NFT project” featuring creator-owned art designed in collaboration with digital artist Zach Lieberman.

Branded as an interactive and dynamic platform, the project – dubbed ‘ADIDAS: PRADA, RE-SOURCE’  – aims to enable the community to contribute to a “large scale artwork” through creative processes and discover the “transformative benefits of web3, co-creation, digital ownership and NFTs”.

The project features 3,000 individual tiles created by the community which will then culminate in a final artwork canvas designed by Zach Lieberman.

According to Adidas, the project unites both brands on their “shared mission to celebrate innovation with a journey into the new world of web3” and to create a “free and inclusive co-creation experience that is collaborative and open to all”.

The waitlist for the project opens on the website on January 24, with holders of Adidas’ landmark NFT having additional ‘digital activations’ offered as a benefit.

Adidas and Prada are also taking environmental concerns into consideration – the 3,000 individual tile NFTs are to be minted on Polygon due to it being more ‘environmentally-friendly’ over other leading blockchains.

In addition, the brands noted that no minting or gas fees will be incurred by users, with holders also eligible to receive a share of the revenue from the final artwork at auction. However, the final piece is set to be minted and sold as an Ethereum-based NFT.

Its collaboration with Prada is Adidas’ second venture into the NFT arena following the release of its debut NFT – a metaverse-focused project made in partnership with Bored Ape Yacht ClubPunks Comic and NFT collector ‘gmoneyNFT‘.

Other iconic global brands, including Pepsi, Associated Press, Nike and Gap have also ventured into the thriving NFT space to develop communities within a Web3 environment.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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