TL; DR
Full story
When checking your overall health, a doctor may check your:
(You never heard of that last one? Damn, okay – maybe we should find a new doctor).
When checking the health of the crypto market, we look for:
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An increase in the total market value
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Positive inflow of external investments from venture capital
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Big name partnerships are being established between Web2 and Web3 companies
So far this cycle, we’ve seen total market value rise significantly, and venture capital money is coming back into the space.
But we haven’t seen an increase in Web2 partnerships.
…until today.
The first major Legacy Corp. x Web3 Company partnership of the cycle has just been announced between Adidas and Stepn’ (the pay-you-to-workout app).
The two are about to launch a series of 1,000 NFTs “over a year-long collaboration, with further NFT drops and physical, wearable items on the roadmap,” according to Stepn’.
Reading between the lines, we assume this statement means the following:
NFT holders will receive a gift or get to purchase a limited edition of Adidas gear sometime in the next year.
Don’t care about exercise or workout equipment?
Neither!
Either way, this partnership is worth celebrating (as a sign of good health for the crypto space).
