Adidas enters metaverse with POAP launch

German sportswear brand Adidas has ventured into the metaverse with its POAP (Proof of Attendance Protocol) launch on the adidas CONFIRMED app.

Unique digital tokens were made available to select users through POAP, a platform for distributing crypto-badges tied to specific events, possibly allowing the sportswear brand to identify its most loyal CONFIRMED app users.

Adidas said in a statement: "For those of you in search of new playgrounds where possibilities are limitless, we invite you to join us as we voyage into the Metaverse.

"This digital collectible is our way of rewarding you for following your curiosity as we explore this new age of originality together. This token proves you were here from the beginning of this journey. Keep it safe — it may come in handy.

"This is the first step in our journey to empower the creators of tomorrow to thrive in the Metaverse. A place where anyone can express their most original ideas and be their most authentic selves. It will take some learning, some building and a leap of faith. If you’re already here, show us the way. If you’re new, come and join us. We can’t wait to see what we do together."

While the terms of service make clear that Adidas maintains ownership for all NFTs (Non-fungible tokens), the brand suggests that the tokens may become useful for future events, such as exclusive events and product releases on the CONFIRMED app.