Adidas, STEPN to release joint NFT collection

The STEPN project team announced a strategic partnership with the sportswear manufacturer Adidas.

Adidas and blockchain Stepn have announced a new NFT collaboration they say is intend to revolutionize move-to-earn applications and ensure the global implementation of the Find Satoshi Lab (FSL) ecosystem. As part of the partnership, the team is set to release a collection of 1000 unique STEPN x Adidas Genesis non-fungible tokens (NFTs).

According to reports, the NFT collection will be launched on April 17 on the MOOAR marketplace. In comments to Forbes, STEPN CEO Shiti Manghani noted that the integration will extend across both brands’ apps, including “a product level collaboration to motivate and incentivize people for running.”

“The collaboration underscores how powerful it is when you can move-and-earn in both the virtual and real world simultaneously.” 

Shiti Manghani, STEPN CEO

The project’s naive token, GMT, reacted with muted growth to the news of a partnership with Adidas. At the time of writing, it was trading at nearly $0.26 with gains, according to CoinMarketCap. However, despite the latest rise, the token is 93% from its all-time high in April 2022, when GMT reached a price of $4.11.

Adidas, STEPN to release joint NFT collection - 1
Source: CoinMarketCap

Previously, the STEPN team announced the FSL points airdrop. The number of points will be distributed depending on the shelf life of digital Genesis sneakers. There will be three levels: those who have owned sneakers for more than 24 months will receive the most points, the second level – 12-24 months, and the third – 6-12 months.

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