Puma Launches NFT Project Commemorating 75th Anniversary March 9, 2023 March 9, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsMarch 9, 2023 by Kelly Cromley

Puma Launches NFT Project Commemorating 75th Anniversary

In commemoration of its 75th anniversary, the German sportswear manufacturer Puma revealed on February 10 a forthcoming PFP (profile picture) NFT endeavor involving 10,000 individuals. The launch aligns with current corporate objectives: It is engaging with its fashion and web3 groups and expanding its internal web3 training. “For our company, web3 is not a marketing tactic,” said Puma’s chief brand officer, Adam Petrick. We regard it as a means of developing more profound and important connections with our clientele. In the past year, the brand has already had multiple web3-related rollouts, including the September unveiling of the Black Station online platform during New York Fashion Week. The immersive website is intended to give customers a sneak preview of the brand’s coming years while introducing web3 to web2 users.

Through an Instagram picture on March 1, the brand revealed Rihanna’s comeback to the product line. Another Fenty x Puma partnership is “coming soon,” according to the post. The style and music socialite was appointed interim design director of Puma in 2014, coinciding with the official launch of a collaboration sneaker that sold out immediately. Petrick stated, “Puma was actively involved in the fashion community for many years.” “We took a break from that for some time. And then we’re returning to it and making significant investments in that sector. There is a close connection between the fashion and emerging technology communities. Petrick affirmed that Puma will participate in September’s international fashion week activities, but did not go into detail.

Puma’s revenues for 2022 rose by 19% year-over-year, reaching €8.47 billion ($10 billion). Following last year’s decline in metaverse prominence, the brand has begun to demonstrate how it intends to appear in web3 in 2018. “Whatever else, our degree of excitement in web3 has grown, as we’ve had some accomplishments in developing a robust, limited core society in the web3 arena,” said Petrick, referring to the label’s 30,000-member Discord community and sold-out NFT initiatives. We have labored diligently to establish and maintain relationships with web3 mega clients, who are keen on novel technological areas and targeted brand interaction.

This customer division is classified into three distinct groups by Petrick: the finance-savvy crypto enthusiast, the art dealer, and the customer intrigued by novel technologies. On February 10, Puma revealed on its homepage its upcoming NFT endeavor, consisting of 10,000 Super Puma cartoon mascot NFTs. The valuation and date of minting are currently unclear. The brand has scheduled numerous web3-connected releases for its 75th anniversary this year, including this one. Puma is up against fierce rivals in the PFP market, as Nike and RTFKT have captured a large percentage of the web3 sportswear community’s customer base.

“Every NFT project requires a genuine proposal. Leanne Elliott Young, the founder of the web3 platform Institute of Digital Fashion, remarked, in reference to Nike’s 2021 buyout of RTFKT, that “it is hard to compete with RTFKT and Nike’s honesty as an alliance with shared goals.” “They are a unified platform that spans IRL and the Internet. For Puma to be impactful, it will be crucial for the brand to communicate its legacy, as this is where the value of many brands [competing on NFTs] lies.” For the Super Puma NFT series, collectible NFTs of a “mascot,” a retelling of Puma’s animal logo, have been produced. In homage to the brand’s 75-year heritage, the mascot image was retrieved from the brand’s records, according to Petrick.

Four thousand free NFTs will be airdropped to NFT holders of the Puma Nitro Collection. The Nitro Collection, which debuted in August 2022, features NFTs that serve as digital counterparts to the tangible Nfrno and Fastroid footwear. In contrast to the Nitro series, which emphasizes products, the Super Puma collection will emphasize storytelling and public outreach. For instance, a comic strip starring the Puma persona will be included in the release.

In September of 2022, Puma debuted its Discord community. Petrick stated, “We are honored to have an extremely robust community and a group management team that allows us to receive direct input from clients and start engaging with them in an extremely straightforward and active manner.” “We’ve been able to pay attention to the suggestions of our viewers and modify our actions accordingly,” he said. “This is the best possible outcome for any advertiser: direct access to the society and culture you’re attempting to understand.”

Understanding the value of partnership, the company has taken care not to silo its inner web3 professionals. Web3 specialists are collaborating with the company’s football advertising division to create Roblox-based tactics to attract young football enthusiasts. As per Petrick, any senior marketing group head for an international label will gain insight into how to communicate with consumers on web3, acknowledging that Discord and Twitter are presently considered to be the most effective entry points.

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.