NFT
Global sportswear company Puma continues its entry into Web3 with a sneaker-based collaboration with NBA star LaMelo Ball and the NFT project Gutter Cat Gang.
Titled “GutterMelo MB.03,” the limited edition kicks will initially retail for $175 through the OpenSea marketplace as an NFT collectible on June 29. The NFT can later be redeemed for the physical sneakers over a one-month period from July 18 through August 20. A Puma representative told us Decrypt that the total number of NFTs has yet to be announced.
Ball, a young star in the NBA who was drafted third overall in the 2020 draft and is a point guard for the Charlotte Hornets, signed a multi-year endorsement deal with Puma in 2020 for a reported $100 million. The MB.03 sneaker marks the third iteration of its sneaker line with Puma, with further editions expected later this year.
RARE 🛸💕 pic.twitter.com/z7HiXWjpPL
— Gutter Cat Gang (@GutterCatGang) June 3, 2023
Gutter Gang Cat is an NFT Profile Photo (PFP) project launched in June 2021 with 3,000 cat-themed avatars. The Puma sneaker is customized with a colorful effect that looks like a heat map along with a Gutter Cat Gang graphic and “1-of-1” debossed on the tongue plus employee names on the heel.
NFT based drops
In the 2022-2023 season, Ball made history as the second youngest player in the NBA with 1,000 points, assists and rebounds – behind only LeBron James, the four-time NBA champion who currently leads the Los Angeles Lakers.
Ball entered the NFT space in June 2021 with the launch of Ethereum-based LaMelo Collectibles — floating figurines of himself in space with on-chain ownership benefits included — and followed by a second collection in February 2022.
LeBron James Spotted In RTFKT Nike Sneakers – Clone X NFT Holders Rejoice
A consecutive all-star in all 19 years of his NBA career to date, James has also ventured into the NFT scene. He was spotted wearing exclusive RTFKT sneakers in May and also received his own CloneX avatar from the same company as a gift. Nike acquired digital sneaker startup RTFKT in December 2021.
The concept of redeeming digital NFTs for physical merchandise was popularized by RTFKT. CloneX avatar holders have also had the opportunity to “counterfeit” physical items representative of their holdings’ clothing features.
Nike remains the dominant brand in the basketball sneaker market, leading in popularity with some 67% of NBA players wearing his shoes during the 2023 season – a figure that rises to almost 75% if Nike’s Jordan brand is also included.
According to the same data, Puma came in fourth behind Adidas and the Jordan brand with nearly 3% of the NBA player share, but the brand may gain cultural exposure in the sport following the endorsement signatures of both Ball and Deandre Ayton of the Phoenix Suns. .