Prada and Adidas team up for a first-of-its-kind NFT project

    What is adidas for Prada Re-source?

    The two brands unveiled “Adidas for Prada re-source” as a digital art creation project. The project comprises of 3,000 individual tiles that will be created by their community.

    This NFT project features creator-owned art, in collaboration with digital artist Zach Lieberman.

    Any individual may join them into the new world of web3 as their interactive platform allows its community to contribute to artwork through play and discover the transformative benefits of web3, co-creation, digital ownership and NFTs.

    How to participate adidas for Prada re-source?

    A waitlist will be dropped to determine access to the raffle and to receive an invitation to mint. The waitlist opens on 24th January on their official website. After the waitlist is closed, wallets will be invited by raffle.

    There are two simple steps to be followed:

    1. Connect your Web3 wallet and create your image to join the waitlist.
    2. Return to the website and if you were successful in the raffle, mint your NFT. It will then be featured as one tile in the final art piece.
    Adidas' entry into Metaverse

    How does it function?

    Create your own digital art contribution after getting invited to adidas for Prada re-source. Your art will be included in the 3,000 tiles final curated piece, an Ethereum mainnet ERC-721 NFT. Adidas and Prada will bring Lieberman’s final NFT will then be auctioned on SuperRare from January 28.

    The proceeds from the auction sale will be divided in the following manner:

    1) 80% donated to Slow Factory, a non-profit organisation funded by Céline Semaan-Vernon

    2) 5% to the digital artist Zach Lieberman

    3)15% shared between all participants who created a tile (after auction fees).

    What is tile and what can you do with it?

    The individual tile is a digital art created by the user that acts like a photograph. Each tile stands as a Polygon ERC-721 NFT in its own right, but is also unique.

    During the waitlist period, individual tile images can be submitter to the raffle. An individual can create absolutley anything for his/ her image tile .

    The selection and contribution of the submitted tiles to the final artwork is in subjection to community guidelines and are subject to change as per the decision of the authorities.

    As a tile creator, that respective tile is owned by the creator. The person can choose to keep/ hold it, sell/ trade it or donate it. Regardless of what the owners does, the wallet that was lined to create the tile will receive the proportional secondary revenue, in perpetuity, from sales of your individual tile — in addition to a proportion of the winning auction bid for the final art canvas.

    Five Pointers to remember:

    1. It costs a grand total of zero to mint an NFT, furthermore the transaction does not incur a gas fee for the user!
    2. NFT tile creators get *3% of secondary market sales, and an equal share among all tile creators of 15% of the final canvas sale at auction.
    3. Wallets that are successful have to mint the NFT during the 24-hour minting window, that will go live from 08:00 EST / 14:00 CET / 21:00 SGT on January 24.
    4. The wallets are split into 2 groups : Group 1 – Into the Metaverse NFT holders and group 2 -“failed transaction” wallets.
    5. A minimum of 1,500 places are reserved for wallets that do not fall into either of the above mentioned categories.

    3,000 tiles, 1 canvas. Play.

    *T&C applied.

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