Adidas Unveils Web3 Loyalty Program April 15, 2023 April 15, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsApril 15, 2023 by Kelly Cromley

Adidas Unveils Web3 Loyalty Program

Adidas’ ALTS will have a scheme for users that is limited by coins and shows off ALTS avatars. The avatars, which are often called the customer’s ALTer identity, are basically customized versions of the customer. The next time, the characteristics of the NFTs that Adidas owners own will be made public. Each NFT will have one of eight rare characteristics, with the rarity of each increasing.

Strikes, Hoops, Thrills, Amps, Soles, and Drips all refer to different types of games and ways of living. Every trait is useful in its own way, allowing early or special access to physical and intangible goods as well as passes to events.

The benefits are tailored to the preferences of the owner, and owners will also get extra perks like exclusive use, business intellectual property rights, ways to customize through digital clothing, access to private events for holders (both in real life and online), special rewards based on points, and the chance to work together on projects.

Erika Wykes-Sneyd, who is Vice President at Adidas Studio, says that the goal of the ALTS project is to make Adidas more visible online as a brand that meets the needs of both athletes and people who want to live a healthy lifestyle. As time goes on, the look of the avatars will change based on the choices and actions of the person who has it. The goal of the project is to give people different ways to show how committed they are, such as through avatars, personal pictures, and real-life people.

When ALTS is put into place, people will be able to talk about who they are and develop a sense of self. In the DappRadar study on customer activity, 92% of the people who answered the survey agreed that there are benefits to buying NFTs that offer benefits. Also, 61% of the people thought this was one of the two most important things when choosing an NFT, and 33% thought it was the most important thing.

The physical side of Adidas is a big part of the ALTS course and is connected to it in a lot of ways. The goal is to let people show their interest in a wide range of things through avatars, personal shots, and real people, all while describing themselves in different ways. The ALTS project started with the Adidas Into The Metaverse scheme. In partnership with digital native groups like Bored Ape Yacht Club, Crypto Punks, Punk Comics, and G Money, this project sold its first batch of 30,000 tokens at the end of 2021.

During that time, the tokens were sold for 0.2 ETH each, which brought in an estimated $22 million. The next year, the holders got physical items like Firebird tracksuits, beanies, and hoodies, as well as an extra airdrop of digital Virtual Gear items. During the month of March, they were given a form of the product that could be used in the virtual world of Decentraland and was tied to gadgets.

At the moment, only people with at least 30,000 tokens are allowed to join the ALTS group. Wykes-Sneyd says that Adidas cares more about keeping its reputation than just making a lot of goods.
Instead of saturating the market or taking short-term steps, they try to work together with authors, coders, and other partners who want to improve the trustworthiness of the community they have built.

Their plan is to grow slowly while staying true to the program’s goals of giving customers a personalized experience. The fact that Adidas is using ALTS is a big step in the company’s merger of Web3 and NFTs. It shows how important these tools are becoming in the fashion and shopping industries. As businesses become more interested in Web3 and NFTs, we can expect to see a rise in creative reward schemes and marketing strategies that take advantage of what blockchain technology can do.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.