Adidas web3 platform auctioning off limited-edition Bugatti-inspired shoes

Art and collectibles • November 1, 2023, 9:36AM EDT

Published 1 minute earlier on

Quick Take

Global shoe brand Adidas and luxury carmaker Bugatti have teamed up to auction a limited number of soccer shoes which will have a digital twin.
Consumers can place bids later this month using Adidas’ web3 platform.

Adidas and Bugatti have joined forces to auction off a limited number of soccer "boots" via the shoemakers' web3 platform, the companies announced.

The 99 pairs of shoes inspired by Bugatti's car design come with a digital twin and will be listed for sale between Nov. 8 - 11. Would-be collectors will be able to place their bids using MoonPay, the companies said. The limited-edition shoes come in black and a shade of blue inspired by early Bugatti Grand Prix cars.

"The exclusive new collection draws upon the characteristics that have come to define Bugatti, not only engineered for speed but created with a ‘Form Follows Performance’ design philosophy for the ultimate in ability," the companies said in a statement. "As with every Bugatti, they will remain rare and sought after by devoted collectors for years to come."

'Phygitals'

The announcement comes on the heels of Nike-RTFKT's recent "forging" event, which allowed NFT owners to order physical shoes. Large brands tapping into highly-engaged crypto consumers by offering limited editions of physical products that are paired with digital assets — often referred to as phygitals — is becoming increasingly prevalent.

Consumers wishing to place bids will have to do so in cryptocurrency, but that doesn't mean bidders have to own any. "Although conducted using cryptocurrency, users have a direct on-ramp from traditional currency in the auction using MoonPay," according to the announcement.

About Author

RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.