Adidas launches support program for NFT artists

Adidas is taking the next step in Web3. With a residency program, the company aims to promote NFT artists and create collaborations.

Adidas is launching a residency program called "Residency by Adidas". The sportswear manufacturer announced this last week.

The program will spotlight global artists and begins in September during Korea Blockchain Week in Seoul.

According to Adidas, the goal is to support and nurture creative talent in the digital space. With this, the company wants to give artists the opportunity to present their work and enable a collaboration with the sportswear giant. This applies not only to digital projects, but also to physical products in the future.

According to Stacey King, Global Head of Communications, Adidas, "Residency marks a milestone in the exploration and development of the Web3 sector."

A collaboration with artists MonkeeMoto and Adra Kandil (aka Dear Nostalgia) is already established. There will be both open and limited NFTs by the artists. The drops begin on Sept. 6 and last until Sept. 11.

The limited-edition NFTs are reserved for Blockchain Week participants in Seoul and cost 0.15 ETH (about US$240). However, there are only 200 copies in total.

The open NFT edition for each artist costs 0.03 ETH (about US$50) and can be minted by anyone. The number is not limited.