Adidas has introduced a new digital artist residency program called “Residency by Adidas,” designed to provide a platform for international artists to showcase their work. This initiative offers collaboration opportunities with the sportswear giant on both digital and physical merchandise.
The inaugural program features artists MonkeeMoto and Adra Kandil, with their digital artworks available as Ethereum-based NFTs (non-fungible tokens). Additionally, the program will offer exclusive physical merchandise, including specially designed hoodies.
What sets “Residency by Adidas” apart is its aim to bridge the digital and physical dimensions of art. While NFTs have traditionally existed solely in digital form, this program expands the scope of collaboration to include physical items like clothing and accessories. This multifaceted approach could potentially set a new trend in how brands engage with artists and digital assets.
The NFTs offered through the program will be categorized into limited and open editions. Limited edition artworks will be priced at 0.15 ETH (approximately $250 based on current valuations) and will be limited to 100 pieces per artist. These exclusive editions will be available for purchase and will come bundled with a specially designed hoodie. Open edition NFTs will be priced at 0.03 ETH (roughly $50) and will be available to the general public for minting without quantity limitations.
Stacey King, the Global Head of Communications and Activations for Adidas /// Studio, has indicated that the Residency by Adidas program aligns with Adidas’ ongoing ALTS Ethereum NFT series, suggesting a long-term commitment to integrating NFTs into the brand’s comprehensive strategy. By combining both digital and physical elements, the program may serve as a model for future collaborations between brands and digital artists.
In summary, the Residency by Adidas initiative represents a significant effort to blend digital and physical elements in both art and commerce. With distinct pricing options and limited and open editions, the program caters to a range of collector preferences. As it evolves, this initiative will likely serve as an intriguing case study in how corporate brands can effectively engage with the NFT space.