Adidas Abruptly Cancels Highly Anticipated NFT Drop Involving Artist Fewocious
Milestone Date: June 21, 2023
Somewhat exemplifying the turbulent Web3 waters faced by big brands and enterprises as they look to leverage blockchain for improved customer engagement, Adidas has abruptly cancelled one of its highly anticipated NFT drops just one day before the drop was due to start.
While the web page promoting the June 22, 2023 drop involving 20-year-old artist FEWOCiOUS was still active at the time this post was published, the moderators of the Discord companion channel to the Alts by Adidas NFT and metaverse program notified program members (Discord server membership may be required) on June 21 that the drop would not be happening is planned.
According to that post, “Our collaboration with FEWOCiOUS has been put on hold for the time being. We want to thank our community for your trust and understanding.”
As can be seen from the above partial screenshot of the announcement, above, the post was carefully worded in hopes that the cancellation would do little to erode trust in the Adidas brand. At the same time, the suddenness and lack of holistic response (no adjusted messaging on the drop’s web page or on the Fewocious website pictured below) exemplify the risks and challenges of the emerging blockchain/enterprise intersection.
In 2021, Fewocious collaborated on a similar footwear-themed drop with RTFKT (pronounced "artifact"), a fashion and collectibles NFT startup that was eventually acquired by Nike. Having committed significant resources and launched several major Web3 initiatives, Adidas is one of a handful of major global brands in addition to others including Starbucks and Nike that have gone well beyond dipping their toes into the world of blockchain.
By David Berlind
Published:June 23, 2023
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