The Metaverse continues to be replenished with famous names and now Adidas has officially entered it. The company released a one-of-a-kind POAP NTF collectible.
A non-fungible token (NFT) is a unique and non-interchangeable unit of data stored on a digital ledger (blockchain). NFTs can be associated with easily-reproducible items such as photos, videos, audio, and other types of digital files as unique items (analogous to a certificate of authenticity), and use blockchain technology to give the NFT a public proof of ownership. Copies of the original file are not restricted to the owner of the NFT, and can be copied and shared like any file. The lack of interchangeability (fungibility) distinguishes NFTs from blockchain cryptocurrencies, such as Bitcoin. (According to Wikipedia)
More and more big names have entered the Metaverse and now Adidas is joining them. Though technically not an Adidas NFT or a coin, the company notified Adidas CONFIRMED users about the POAP NFT (Proof of Attendance Protocol) and linked them to the POAP site to add the collectible to their Ethereum (ETH) wallets. The brand has not specified what the token will unlock. However, POAP NFT’s are known to blend the real and the virtual for their users, reported SoleSavy.
POAPs are unique NFT badges given out to attendees of both virtual and real-world events. While POAPs can be used to keep a record of your life experiences, others envision a future where POAPs play a much bigger role in the digital economy, explains Crypto Briefing.
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Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.