STEPN GO, the famous move-to-earn app, has announced the second phase of its collaboration with Adidas, with the launch of the new Genesis NFT collection. It consists of 1000 new sneakers in the form of Non-Fungible Tokens at the price of 10,000 GMT per entry, with a refund for those who do not win. 

STEPN GO and Adidas: the new Genesis Sneakers NFT collection and the lottery

STEPN GO has announced the second phase of its collaboration with Adidas, with a new edition of Genesis Sneakers NFT. 

STEPN GO x adidas – WE’RE SO BACK!

We’re teaming up again with @adidas to break web3 a second time

This new edition we’re taking things to the next level with a brand new edition of 1,000 co-branded Genesis Sneakers, exclusively on STEPN GO

Featuring 4 unique designs,… pic.twitter.com/2FxAM8c0Kd

— STEPN GO (@Stepnofficial) September 23, 2024

“STEPN GO x adidas – WE ARE BACK! We are teaming up again with @adidas to break the web3 a second time. This new edition takes things to the next level with a new edition of 1,000 Genesis Sneakers in co-branding, exclusively on STEPN GO. With 4 unique models, inspired by the brand’s most iconic running silhouettes… How could it get better than this? But wait: there’s still time to stack your GMT and get ready for the Mint lottery: – Dates: From September 25, 8:00 UTC, to September 30, 8:00 UTC – 996 Genesis up for grabs* – 4 epic designs, with the special @altsbyadidas – special editions – Mint lottery on @mooarofficial – Ticket price: 10,000 GMT (refunded if not won) *4 Genesis sneakers will be given away on @stepnofficial and @altsbyadidas. This is another HUGE milestone towards the mass adoption of STEPN GO, and we are so proud to bring it to you. Ready, STEPN… GO!”

In practice, it is a new collection of 1000 Genesis Sneakers, including 4 unique models, inspired by the most iconic running silhouettes of the brand.

Not only that, there is also a lottery on MOOAR, the NFT marketplace of FSL, the company behind STEPN GO. In fact, 1,000 Genesis Sneakers will be up for grabs at the price of 10,000 GMT per entry, with a refund for those who do not win.

STEPN GO and Adidas: the collaboration for the Genesis NFT continues

This current phase is the second phase of the partnership STEPN GO and Adidas that will last a year. 

In fact, the inaugural launch took place last April 2024, with the first collection of Genesis Sneakers NFT developed on Solana. Even in that case, STEPN GO and Adidas conducted two lotteries on MOOAR.

Regarding this second edition, Yawn Rong, co-founder of FSL, stated:

“This next phase of partnership with adidas allows us to further integrate digital collectibles and fitness rewards. We are excited to continue pushing the boundaries of what is possible in the Web3 lifestyle space.”

STEPN GO has launched its mainnet in the beta version, the Haus System, which quickly became one of the main features of STEPN GO. In fact, users can lend the sneakers to friends, sharing energy and earnings and motivating each other to stay active. 

The latest collaborations of the lifestyle app

While today STEPN GO celebrates the second phase of its collaboration with Adidas, recently it seems not to have been idle at all. 

And in fact, the social-lifestyle app went wild launching in August a new collection of NFT sneakers together with CASIO COMPUTER, as part of the “Virtual G-Shock” project. 

Not only that, in July, STEPN announced the imminent launch of the branded Web3 domains .stepn. In practice, together with Unstoppable Domains, STEPN users can obtain a unified digital identity for fitness results and Web3 activities. 

STEPN, the famous lifestyle app, in its new long-term collaboration with Adidas, has announced the launch of the new Genesis Sneakers NFT collection developed on Solana. 

STEPN and Adidas launch the collection of 1000 Genesis Sneakers NFT on Solana

STEPN, the lifestyle app famous for move-to-earn, has announced its new long-term collaboration with the renowned sportswear brand Adidas. Among the benefits for users, there is now the launch of the new collection of 1,000 Genesis Sneakers NFT developed on the Solana blockchain.

STEPN x adidas: Step into the Future.

We are proud to announce that we are teaming up with @adidas and @altsbyadidas for a long-term collaboration, to revolutionise the lifestyle app ecosystem, and bring global adoption to @fslweb3.

This groundbreaking partnership will contain… pic.twitter.com/qN2xTNcbD6

— STEPN | Public Beta Phase VI (@Stepnofficial) April 15, 2024

“STEPN x adidas: A step into the future. We are proud to announce that we are collaborating with @adidas and @altsbyadidas for a long-term partnership, to revolutionize the lifestyle app ecosystem and bring global adoption to @fslweb3.

This innovative partnership will contain multiple activations, aimed at providing a complete experience to our community: 1,000 Genesis Sneaker NFTs in co-branding on @solana; Exclusive benefits for holders; And much more! Our collaboration goes beyond NFTs, offering digital resources that inspire a healthier and more active lifestyle. With adidas by our side, we are not just dreaming of a new future: we are building it. Note: these co-branded Genesis Sneakers will be available on our marketplace http://mooar.com. Priority will be given to the adidas and FSL communities, with the first day accessible only through an allowlist, including: @altsbyadidas NFT holders. STEPN HOLDERS: OG and Genesis holders, and “Effective Mover 6” badge holders; MOOAR: Membership level 5 and above; Gas Hero: Badge or Genesis holders; The lottery will be open to the public on April 18; The snapshot was taken on April 12. If you are part of the allowlist, make sure to go to http://id.fsl.com and set up your account with your STEPN email before April 16. STEPN x adidas: A step into the future.

STEPN and Adidas: how does the sale of the new NFT collection work?

Basically, the STEPN x adidas Genesis Sneakers collection will be sold through the MOOAR marketplace, at a price of 10,000 GMT each. GMT is the native token of STEPN. 

The collection will be distributed through a two-phase lottery (with full refund for those who do not win).

Specifically, on April 17th there will be the first phase, in which 200 NFTs have been reserved for the most loyal users. This list includes the holders of “ALTS by adidas” NFTs and eligible members of the broader FSL community, including users of STEPN, the MOOAR marketplace, and the Gas Hero blockchain game.

The second phase, instead, will consist of a public lottery sale, where the remaining offer of 790 NFTs will be available. This phase will take place from April 18th to 21st. Winners will be drawn every 24 hours and can claim their prizes on the MOOAR market. 

The limits are set at one NFT per wallet to ensure a fair distribution of the collection.

In this regard, Shiti Manghani, CEO of STEPN by FSL, stated:

“This collaboration between STEPN and adidas highlights how powerful it is to move and learn simultaneously in the virtual and real world. The fact that a physical and digital partnership – or ‘phygital’ – between the most popular lifestyle app and a global brand like adidas is now a reality indicates the direction in which lifestyle trends are heading.”

The present collaboration between STEPN and Adidas will last for one year, during which other NFT drops and wearable physical items will be involved. 

The move-to-earn app and the $30 million airdrop on Solana

STEPN is committed to growing the emerging “move-to-earn” sector in a space that enhances life and makes future technology accessible to all generations.

At the time of writing, in fact, the lifestyle app powered by Solana has already reached 5 million registered users. 

Not only that, the announcement of the new Genesis Sneakers NFT collection with Adidas comes after the great success of the airdrop on Wednesday, April 10, which saw the STEPN community rewarded with tokens worth about 30 million dollars.

And indeed, STEPN has planned its airdrop in two phases, allowing STEPN badge holders to earn FSL points first and then Genesis Sneakers holders. 

The initiative has distributed a total of 100 million FSL points, equivalent to about 30 million dollars. 

Adidas recently announced the worldwide launch of “RESIDENCY by adidas,” an innovative residency program dedicated to digital artists in partnership with the NFT OpenSea marketplace. 

This initiative debuts with the first NFT sale of artworks, including limited and open editions created by MonkeeMoto and Adra Kandil. The event will take place between 6 and 11 September 2023. See below for all the details. 

Exclusive NFT sale on OpenSea: the latest news from Adidas

Further expanding the scope of Adidas’ commitment to art, culture, creativity and digital technology, Adidas recently announced the global debut of “RESIDENCY by adidas.” 

This innovative Web3-based digital artist residency program represents a milestone for the streetwear and lifestyle brand, solidifying its intention to engage an assortment of digital artists from around the world. 

The initiative offers unique opportunities to exhibit their work and collaborate with the brand both in the digital realm and on physical projects. The program aims to unite the realms of art, creative expression, and identity. 

The same ones that are central to the brand’s ethos and commitment to creativity and innovation within the Web3 community. 

RESIDENCY, which will go live globally on 7 September during Korean Blockchain Week in Seoul, represents a pivotal moment when the Three Stripes Studio will reveal a new path of collaboration and creativity for digital artists to further connect with the iconic brand and their passionate community of collectors and connoisseurs.

Adidas also proudly presents MonkeeMoto, still in disuse, and Adra Kandil, or DearNostalgia, as a richly diverse pairing of unique creative lenses to represent the brand’s first RESIDENCE. 

With the newly created work by the artists, RESIDENCY launches the first NFT sale of limited and open edition adidas artwork by MonkeeMoto and Adra Kandil. 

Some statements about Adidas’ new initiative

Stacey King, global head of communications and activation for Adidas said the following about it: 

“This project is another big step for our Studio as we continue to explore, experiment and diversify our impact and value in the Web3 Community. 

When we looked at what our brand and community has represented in this space, as well as the reaction to our Open Editions in Berlin and NYC, it felt like such a natural step to go ‘all in’ and create an even stronger pathway and platform for some of the coolest and most engaging artists in our Community. RESIDENCY represents all of this and more to come. 

We’re excited for the digital, physical and linked drops that will follow – all in parallel to our continued plans to build ALTS by adidas into one of the best projects in Web3.” 

The limited edition consists of 100 pieces per artist and includes an exclusive hoodie available only to those attending the event. This unique package will be offered at a price of 0.15 ETH. 

Meanwhile, the Open Edition will be priced at 0.03 ETH. Both editions will be available for purchase starting Wednesday, 6 September. Sales of the limited edition for both artists will end upon the sell-out of 100 NFTs or 8 September, while the Open Edition will close on 11 September. 

Those who participate in the adidas activation during Korean Blockchain Week will also have the opportunity to pick up a limited-edition adidas hoodie featuring the /// Studio’s iconic side trefoil to accompany the limited-edition NFT.

The SEC fines media company for the unregistered sale of NFTs

On Monday, the US Securities and Exchange Commission (SEC) issued its first-ever enforcement action against the sale of NFTs, imposing a $6 million fine on a Los Angeles-based media company for illegally selling unregistered securities. 

However, this event raises questions about the eventual regulatory direction the multibillion-dollar NFT market might take.

In this case, the details were clear: the sanctioned company, Impact Theory, had promised potential NFT buyers profitable growth in their investments by claiming that a payment of 1.5 ETH would lead to significant gains once the company compared itself to the stature of the “next Disney.”

Although the SEC announcement marked a first step, much uncertainty surrounds the regulatory future of the NFT industry, which until this week had avoided the attention of SEC Chairman Gary Gensler. 

As is often the case in similar instances in the cryptocurrency arena, the SEC’s announcement was quickly followed by criticism from the commission’s Republican minority. 

Specifically, SEC commissioners Hester Peirce and Mark Uyeda objected to the chairman’s approach, arguing that the regulations should not be overly applied to collectibles and digital artwork, which make up a large part of the NFT market.

Until now, the SEC had not addressed the luxury goods trade or the art market.

However, the commission’s current critical attitude toward cryptocurrency-related products may push it to regulate art projects, digital collectibles and NFT-based subscription supporters. 

Hence, one wonders if the action taken on Monday could be seen as a sign that the SEC is heading toward broader control of the entire NFT market.

Related posts
More from author

Adidas Originals teams up with the renowned Japanese brand to present a limited-run version of the Forum 84 BAPE Low Triple-White trainer, enhanced by the NFT concept. Here are all the details. 

Adidas Originals and BAPE: revolutionising auctions with NFT technology

As anticipated, as part of BAPE’s 30th anniversary celebrations, Adidas Originals together with the iconic Japanese brand unveil the Forum 84 BAPE Low Triple-White trainer in a limited edition version. 

This event commemorates the release of this shoe with great anticipation, while renewing Adidas’ timeless connection as an original collaborator along with BAPE’s pioneering role in the world of streetwear. 

This launch will give way to a new and innovative format. Indeed, expressing the deep dedication of both labels to timeless style and the ongoing pursuit of excellence, the triple-white trainer emerges as an invigorating contrast to the previous BAPE 1ST CAMO, unveiled earlier this year. 

Harajuku‘s iconic branding is further fused with a shooting star motif that decorates the side of the vamp, while the words ‘A Bathing Ape’ are embossed on a silver-tone metal plate. 

In addition, each pair of shoes is equipped with an NFT chip located on the left tongue, granting the owner access to the Digital Certificate of Authenticity.

Reinforcing the innovative nature of this collaboration, the launch is supported by the adidas /// Studio (Three Stripes Studio) platform in the form of a limited edition NFT associated with the product itself. 

This represents a new milestone for Adidas, as it will be their first auction of digital assets, realised in collaboration with MoonPay. Only 100 NFTs (corresponding to 100 pairs of trainers) will be offered for sale in this unprecedented event.

The NFT auction as part of the collaboration between Adidas Originals and BAPE, called Fresh Forum, will start on 22 August on adidas COLLECT and will be accessible to all interested parties. The auction phase will run for a period of 72 hours, with closing scheduled for 25 August.

Apple wins: the 30% tax on NFTs on the App Store remains

US tech giant Apple will retain its controversial 30% App Store fee while its legal battle unfolds before the US Supreme Court, in a ruling that puts a strain on the non-fungible token (NFT) ecosystem.

The iPhone maker is embroiled in a legal dispute with Epic Games, the company behind Fortnite, over its antitrust practices in the App Store. 

While most of Epic’s claims against Apple have been dismissed, a ruling has given the developer the ability to direct users to external payment systems within the iOS ecosystem.

Indeed, Apple prevents all apps in the App Store from circumventing the 30% fee on in-app transactions and removed Fortnite for this rule violation.

Elena Kagan has spoken out against Epic’s attempt to allow developers to circumvent the App Store’s payment rules, at least for the time being. She did not provide an explanation for her decision, as reported by Bloomberg.

This ruling gives Apple breathing space as it prepares for its appeal to the Supreme Court later this year. However, if the court refuses to hear the case, the previous verdict against the world’s most valuable company could have consequences.

In its filing, Epic criticised this ruling that allows Apple to maintain its policies until the appeal to the Supreme Court. 

It also pointed out that this would adversely affect not only Epic, but also countless consumers and other app developers for a considerable period of time. 

Apple defended itself by refuting these claims, pointing out that its policies do not harm Epic and that the company’s games have been removed from the App Store.

The App Store is a crucial source of revenue for Apple and an unfavourable decision at the Supreme Court could have a significant impact. The company is estimated to have generated over $1.1 trillion in commercial revenue from the App Store alone in the past year.

Related posts
More from author