Sports brand Adidas will open an office in Sofia, where the company will make technological developments. This was announced by Vladislav Lazarov, global senior director of digital products at Adidas, during the Digital Trends 2022 forum.
The metaverse and web3 open up many opportunities for businesses, and given the prediction that in 100 years, 90% of modern brands will not exist, the question comes down to survival, he said.
In 2020, in the midst of the pandemic, Adidas decided to integrate reality into the virtual space. Thus was born Adidas Gamers, a project allowing users to take their football skills from real to virtual life. Valuable partnerships followed, including with Coinbase, Prada and many others.
Just a few days ago, together with FIFA, we launched a virtual experience on the Roblox platform. It’s a platform that has 200 million users every month. 50 million play every day, ranging in ages from 10 to 15, said Lazarov.
In Roblox and other similar platforms, he said, the children determine the purchasing power. That makes companies want to be part of the process. They want to take advantage of the non-traditional model of doing business that the so-called open metaverse offers.
Lazarov also touched on the topic of buying virtual land. In his words, the more quantitative and qualitative value that it generates amidst the rapidly growing use of the metaverse will lead to large increments in its price. Mr Lazarov continued with touches on modernisation and identified the most promising categories in virtual products – the so-called loyalty programs.
Adidas invests millions of dollars each year to be part of the metaverse. The company believes it will serve as its primary source of revenue down the technological line of development.
Todorov later commented on the interchangeability of the open metaverse and the use of NFTs with factual reality. The open metaverse allows you to have a character and buy goods, clothes and other items of qualitative value. As the process develops and you soon decide your indiscretion and thus lack of interest, you can sell your items on the open market.
The conference further touched upon the futuristic value of the metaverse, reaching financial conclusions leading to believe and be predicted that the metaverse will generate €600 billion in revenue in 2026. 88% of Generation Z believe that their virtual identity corresponds to their real one, and 38% see the virtual environment as part of their everyday life.