Adidas has launched a new digital artist residency program, “Residency by Adidas,” aimed at providing a platform for international artists to showcase their work. The initiative will offer collaboration opportunities with the sportswear giant on both digital and physical merchandise.
Featured artists MonkeeMoto and Adra Kandil will headline the program’s inaugural offering, with their digital artworks available as Ethereum-based NFTs. In addition to digital tokens, the program will also offer exclusive physical merchandise, such as specially designed hoodies.
Merging Digital Art with Physical Products
The Residency by Adidas program distinguishes itself by aiming to blend the digital and physical dimensions of art. While NFTs have mostly been digital entities, this initiative offers artists an avenue to transcend that limitation. Collaborations will expand beyond the realm of digital tokens to include physical items like apparel and accessories. This multifaceted approach could set a new trend in how brands engage with artists and digital assets.
Limited and Open Editions for Collectors
The NFTs offered through the program will come in two categories: limited and open editions. The 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. The open edition NFTs will be priced at 0.03 ETH, roughly $50, and will be available to the general public for minting without any limitations on the quantity.
Looking Ahead
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. This suggests a long-term commitment from Adidas to integrate NFTs into its comprehensive brand strategy. By combining both digital and physical elements, the program may serve as a model for future collaborations between brands and digital artists.
To conclude, the Residency by Adidas initiative represents a significant effort to integrate digital and physical elements in both art and commerce. With distinct pricing options and both limited and open editions, the program accommodates a range of collector preferences. As it develops, this initiative will likely serve as an interesting case study in how corporate brands can effectively engage with the NFT space.