📝#88: Adidas, Walmart & Drake
📝#88: Adidas, Walmart & Drake
Adidas partners with Doodles. Pantera Capital eyes TON for gaming. Crypto.com X UEFA. Drake's new memecoin. The Sandbox partners with leading Indian content company.
Hey, it’s Marc ✌️
Today we deliver you our obsessively-curated insights on Web3 consumer + gaming.
We’ll will cover:
Consumer: Adidas partners with Doodles. Crypto.com partners with UEFA. Drake’s new memecoin? IP protocol raises $80M from a16z.
Gaming: Pantera Capital eyes TON for gaming. The Sandbox partners with leading Indian content company (4.5B market cap).
Plus: We untangle Walmart’s Web3 strategy.
Crypto, Macro + AI follows on Tuesday.
Let’s dive in 🦈
⏱️ Read time: 3min
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📚 Our Top Reads
Consumer Crypto: Beyond Web2 Replication. By Parker Jay-Pachirat. Link
The metaverse in aviation: The “Mainstream Multiverse”. By Anna Schneider. Link
Consumer crypto by the numbers. By Blockchain Brett & Jon Gall. Link
Walmart's Approach to Web3, Community and Innovation (Podcast). Link
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✨ Web3 & Consumer
Adidas X Doodles
Adidas Originals has teamed up with Doodles to launch limited-edition virtual swag packs featuring exclusive physical apparel.
These collectible packs, featuring co-branded designs like the Coi Leray's digital mascot, Deysi Tracksuit and Superstar Shoes, were available for purchase until August 16.
They were available from $4.99 to $374.99, with some including exclusive physical items limited to 200 pieces.
Stepping back: Doodles launched the Doodles 2 Character Builder in The Stoodio app, featuring customizable avatars with digital apparel and a “Pharrell Pack” that included wearables from Adidas and other brands, plus a token for exclusive physical items in 2023.
They also released the official trailer of ‘Dullsville and the Doodleverse’, directed by Burnt Toast, with music by Pharrell Williams in July 2024.
Why it matters: Adidas is going all into Web3 and gaming, creating a series of virtual experiences. The collection with Doodles is a part of Adidas’s “Not in the Store” strategy, offering a unique and engaging way for consumers to interact with both brands. The Doodles community represents a new demographic for Adidas: Consumers who are still interested in NFTs, even at current market situation.
By the numbers: Doodles TV has a strong presence on YouTube with 291K subscribers with 319K followers on Instagram.
The big picture: The partnership ties into Doodles' broader strategy, including their new membership service, DoodlesTV, which offers exclusive content and experiences through NFT access passes. Additionally, Doodles attracts a younger, digitally-native audience that is highly engaged with digital art, collectibles, and the metaverse, which opens up new avenues for Adidas.
👉 We’ll soon publish a deep dive on this. Make sure to subscribe:
Crypto.com Partners with UEFA
Crypto.com is now the first and exclusive global cryptocurrency platform sponsor of the UEFA Champions League.
What you should know:
Multi-Year Deal: The partnership includes in-stadium activations, broadcast integrations, and innovative advertising campaigns.
Scope: Sponsorship rights for the UEFA Super Cup, UEFA Youth League, and UEFA Futsal Champions League.
Process: The deal was finalized on Crypto.com's second attempt, following their withdrawal from a nearly €500M UCL sponsorship agreement with UEFA in 2022.
Stepping back: Crypto.com has over 100M users previously sponsored major events like the FIFA World Cup and Formula 1.
The big picture: Sports and Web3 industry is converging, offering a new way for fans to interact with their favorite teams and athletes.
We’ve seen sports x crypto already during the last bull run in 2021:
Coinbase x NBA
FTX x Miami Heats
Tezos x McLaren Formula 1 team
Deals in 2024:
AC Milan partnered with crypto exchange Bitpanda to boost brand visibility and engage fans with exclusive perks.
Kraken partnered with Tottenham Hotspur as the club's Official Crypto and Web3 Partner, aiming to enhance fan engagement through crypto education and exclusive experiences.
Why it matters: The deal signals growing acceptance of cryptocurrency in mainstream sport.
👉 Read our deep dives on crypto, loyalty and fan engagement:
More Web3 Highlights:
Semma, a South Indian Michelin-starred restaurant in New York, now accepts crypto payments via the Blackbird app, which allows users to settle bills with FLY tokens and earn rewards. Blackbird’s system offers restaurants lower transaction fees compared to traditional credit cards. Link
STEPN GO and Casio have partnered to launch 800 co-branded NFT Sneakers as part of the “VIRTUAL G-SHOCK” project, linking physical activity to virtual rewards. STEPN GO has 5M users and partnered with Adidas for NFT sneakers. Link
Drake's NOCTA brand has sparked speculation that its ad for the Hot Step II sneakers, featuring a shoe taped to a wall, might reference the meme coin Banana Tape Wall. The coin's market cap surged following the ad, but some believe the ad may just be nodding to a famous art piece rather than the crypto. Link
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🎮 Brands & Gaming
Ubisoft has partnered with Double Jump.Tokyo to integrate blockchain into its upcoming RPG, ‘Champions Tactics,’ aiming to accelerate global web3 game adoption. This move reinforces Ubisoft's unique commitment among major game publishers to blockchain gaming. Link
Pantera Capital has invested in Animoca’s GAMEE to support its expansion on the TON blockchain via the WatBird Telegram Mini App, aiming to leverage Telegram’s user base for mass Web3 adoption. This move reflects Pantera’s focus on high-growth blockchain startups despite concerns about venture capital exit strategies in the Web3 space. Link
The Sandbox’s BharatBox has partnered with Shemaroo to launch a Jab We Met avatar collection, featuring 3,333 Geet NFTs that unlock gaming quests and exclusive rewards. This marks BharatBox's push to make India a leading market for NFTs and web3 games, leveraging Shemaroo’s strong entertainment legacy. Link
🎙️Walmart’s Web3 strategy: Show up early, be data driven, target communities.
In our latest podcast episode, we had the pleasure of hosting Justin Breton, Head of Brand Marketing Innovation at Walmart.
Why you should pay attention: Walmart is the world's largest company by revenue, according to the Fortune Global 500 list in October 2022. In February 2023, Walmart announced that its FY2023 total revenue was $611.3B, serving over 230M customers weekly.
Three key takeaways:
No immediate ROI required: Walmart is focused on engaging with the next generation of consumers by leveraging emerging platforms and new technologies. The strategy is not just about immediate ROI but about gaining insights and positioning Walmart as a future leader in these spaces.
Everything starts with data: Walmart’s approach to innovation is heavily data-driven. Insights about consumer behavior, especially regarding how younger consumers interact with platforms and influencers, are central to designing effective brand experiences. For example, Walmart Realm was developed by combining data on younger consumers' reliance on influencers with trends from platforms like Pinterest.
Focus on communities, not target groups: The brand tailors its approach to different communities across various platforms, recognizing that each has unique expectations and ways of interaction. For instance, Walmart leverages Discord to support its efforts on Roblox, creating a dedicated community with 34,000 active members who discuss and nominate experiences and virtual items for Walmart's platform.
Listen to it on Spotify, YouTube, or Apple Podcasts.
💰 Money Moves
Funding rounds:
Story Protocol: IP-focused blockchain startup story protocol raised $80M. Link
Fabric Cryptography: Cryptography company raised $33M co-led by Blockchain Capital and 1kx. Link
Others:
Gate Ventures and The Blockchain Center in Abu Dhabi have launched Falcon Gate Ventures, a $100M fund to accelerate global blockchain innovation. Link
That’s all for now, folks.
The next edition on crypto, macro & AI will follow on Tuesday.
Talk soon,
– Marc & Team
PS: Follow us on LinkedIn and X for shorter insights.
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