Adidas has launched a new program to support and promote digital artists. The program, called “Residency by Adidas,” will provide artists with a platform to showcase their work and collaborate with the company on both digital and physical projects. The inaugural offering of the program will feature the work of artists MonkeeMoto and Adra Kandil, whose digital artworks will be available as Ethereum-based NFTs. The program will also offer exclusive physical merchandise, such as specially designed hoodies.
The Residency by Adidas program is unique in its goal of blending the digital and physical worlds of art. While NFTs have traditionally been digital artworks, this program offers artists the opportunity to create NFTs that can also be translated into physical objects, such as apparel and accessories. This multifaceted approach could set a new precedent for how brands engage with artists and digital assets.
The NFTs offered through the program will be available in two formats: limited editions and open editions. The limited edition artworks will be priced at 0.15 ETH, or approximately $250, and will be limited to 100 pieces per artist. These exclusive artworks will be available for purchase and will come bundled with a specially designed hoodie. The open edition NFTs will be priced at 0.03 ETH, or approximately $50, and will be available to the general public for minting without any quantity restrictions.
Stacey King, the Global Head of Communications and Activations for Adidas /// Studio, has said that the Residency by Adidas program is consistent with Adidas’ ongoing ALTS Ethereum NFT series. This indicates that Adidas is committed to integrating NFTs into its long-term brand strategy. The program’s combination of digital and physical elements could serve as a model for future collaborations between brands and digital artists.
In conclusion, the Residency by Adidas program is a major step towards integrating digital and physical elements in art and commerce. By offering different pricing options and both limited and open editions, the program caters to a variety of collector preferences. As it progresses, this initiative is likely to become a valuable case study on how corporate brands can effectively engage with the NFT space.