Adidas Launches Sui NFTs for Xociety Game, Expands Web3 Strategy

Adidas has ventured into the Web3 space with the launch of its own line of Sui NFTs, marking a significant move for the apparel giant. This initiative involves a collection of NFT skins for Xociety, an upcoming third-person crypto shooter game with RPG elements. The NFTs, which will be minted on the Sui L1 chain, include various in-game skins such as black hoodies, neon Adidas tracksuits, and other apparel emblazoned with the Adidas logo. These NFTs are packaged in mystery boxes, with each box containing a specific number of full clothing sets. The rarity tiers for these boxes include Uncommon, Rare, Epic, and First, with Uncommon boxes containing three sets, Rare boxes containing four sets, and Epic and First boxes containing eight sets of apparel. The boxes will be available for minting on Tradeport on May 16 at 9 am ET.

Xociety's deal with Adidas is structured as a revenue share agreement, where players will receive rewards based on the spending of other players. This model is designed to provide real rewards across the lifespan of Xociety. The game's audience is primarily in Asia, with significant player bases also in South America and Europe. Xociety has conducted limited-time playtests, with over 12,000 players participating in their most recent playtest across 64 different countries. The team plans to expand into the North American market soon, and the game will also be playable on the SuiPlay 0x1 handheld device.

Adidas' entry into the NFT space is not new; the company has launched over a dozen different NFT collections since its first foray in 2021. Its initial collection, a metaverse drop with the Bored Ape Yacht Club and others, generated significant revenue. However, the exact amount Adidas retained from this deal is not specified. This latest move into the Sui NFTs further demonstrates Adidas' commitment to exploring the potential of blockchain technology and digital assets. The collaboration with Xociety and the use of the Sui L1 chain highlight Adidas' strategic approach to integrating Web3 technology into its business model, aiming to create new revenue streams and engage with customers in innovative ways.