3 min read
Adidas appears in the metaverse with an NFT that you don't actually own.

Adidas is making a hazy foray into the metaverse with a mysteriously purposed NFT. POAP, a platform for distributing crypto-badges tied to specific events, released a digital token on Thursday. The terms of service clarity that Adidas keeps ownership of all NFTs, eliminating a key component of the space's appeal. Instead, the brand teases that the token may be useful in the future, most likely for a limited-edition product release.

In a launch page on the Confirmed app, which redirects to POAP, Adidas said, "This digital collectible is our way of rewarding you for following your curiosity... this token proves you were here from the beginning of this journey." "Keep it safe; you never know when you'll need it." As of the time of publication, all of the tokens have been claimed. It's unclear what exactly you're missing out on.

Nike is quietly preparing for the metaverse

 — Regardless of how much credence you give to the metaverse's purported emergence, Adidas' first foray into the space looks particularly underwhelming when compared to its biggest competitor's launch on the same day. Nike and Roblox collaborated to create "Nikeland," a virtual world where users can dress up their avatars in Swoosh-branded clothing and sneakers. Playing mini-games in Nikeland requires real-life activity, as accelerometers in your mobile device translate your movements to your avatar's.

Nikeland is free to play on Roblox, and it at the very least gives its user base a better reason to take part in its metaverse endeavors. And unless it surprises us by giving away free Yeezys to owners of its newly launched NFT, Adidas will have to do a lot more to make a name for itself in a space that is sure to become the next hotbed of corporate rivalry.

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