Stepn attempts revival with Adidas partnership and new sneaker NFTs

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Stepn attempts revival with Adidas partnership and new sneaker NFTs
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STEPN, a Web3-based lifestyle app that combines elements of Game-Fi and Social-Fi, is seeking a rebirth with a new strategic partnership with Adidas.

According to the announcement, the collaboration involves the launch of a new collection of exclusive sneakers in NFT format. The partnership promises to bring a new wave of innovation to the Web3 ecosystem and seeks to strengthen STEPN’s position in the crypto asset and digital fashion market.

The partnership between STEPN and Adidas had already caught the public’s attention in April 2024 with the launch of the first series of Genesis Sneakers. Now, both brands are expanding this collaboration with a new series of 1,000 pairs of Genesis sneakers. The companies will make these sneakers available as NFTs.

These digital sneakers, which feature exclusive designs of popular Adidas models such as the adiZero Adios Pro 3, Ultraboost 5X, Supernova Rise and adiStar BYD, will hit the market via a mint raffle on FSL’s NFT marketplace, Mooar.

Stepn announces new partnership with Adidas

The raffle period will run from September 25th to September 30th. The price of each ticket will be 10,000 $GMT, the native token of STEPN. Those who do not win the raffle will receive the amount back as a refund.

This new series is expected to appeal to both sneakerheads and NFT enthusiasts, reinforcing STEPN’s position in the digital collectibles market and exploring the future of wearables in the Web3 space.

STEPN GO, which previously faced criticism for its “ponzinomics”-based business model, saw its user base decline dramatically following a ban on its activities in China.

The project, which reached a transaction volume of US$35.3 billion in May 2022, suffered a significant decline, especially after allegations of operating on unsustainable economic principles.

However, with this new partnership with Adidas and the launch of the new Genesis sneaker collection, STEPN is trying to rebuild its user base and reposition its fitness app within the Web3 ecosystem.

According to Yawn Rong, co-founder of FSL:

Stepn attempts revival with Adidas partnership and new sneaker NFTs

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Stepn attempts revival with Adidas partnership and new sneaker NFTs

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Stepn attempts revival with Adidas partnership and new sneaker NFTs

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