"Residency by Adidas," a new digital artist residency initiative from Adidas, aims to give international artists a platform to display their work.
Opportunities for collaboration with the industry behemoth in sportswear will be provided by the project for both digital and tangible goods.
The program's initial offering will feature featured artists MonkeeMoto and Adra Kandil, whose digital creations are available as Ethereum-based NFTs.
The program will also provide exclusive physical goods, such as hoodies with custom designs, in addition to digital tokens. Impact-Site-Verification: 57e342d1-92c6-47f6-bf93-7333328790f3
MERGING DIGITAL ART WITH PHYSICAL PRODUCTS
INTRODUCING: RESIDENCY BY ADIDAS 🤝
The adidas /// studio is proud to announce the global launch of "RESIDENCY by adidas" – the brand’s first digital artist-in-residence program! 🎨
pic.twitter.com/He0LAEUzQA
— ALTS by adidas (@altsbyadidas) August 31, 2023
The program known as Residency by Adidas sets itself apart by attempting to combine the digital and physical aspects of art.
While NFTs have often been digital objects, this effort gives artists a way around that restriction.
Beyond the world of digital tokens, collaborations will cover tangible goods like clothing and accessories.
This comprehensive strategy might establish a new standard for how businesses interact with musicians and digital assets.
COLLECTORS' LIMITED AND OPEN EDITIONS
There will be two types of NFTs available through the program: limited editions and open editions.
The limited edition artworks will cost 0.15 ETH, or about $250 based on current prices, and only 100 pieces will be created by each artist.
These limited editions will be sold separately and will include a hoodie that has been particularly created.
The cost of the open edition NFTs will be 0.03 ETH, or around $50, and anyone can mint them without any restrictions on the number.
SEEKING OUTWARD
According to Adidas /// Studio's global head of communications and activations, Stacey King, the Residency by Adidas initiative complements Adidas' ongoing ALTS Ethereum NFT series.
This implies that Adidas is committed to incorporating NFTs into its long-term brand strategy.
The concept might act as a template for upcoming partnerships between companies and digital artists by fusing both physical and digital components.
To sum up, the Residency by Adidas project is a significant attempt to combine digital and analog components in both art and business.
The program offers a variety of pricing options, limited and open editions, and collector preferences. This program will probably serve as an intriguing case study for how corporate branding might grow as it matures.
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