Adidas Credits Tesla’s Adoption of Bitcoin for Opening the Door to Web3

03/06/2023 06:03 • AI & Tech Insights • 76 views

According to reports, Erika Wykes-Sneyd, head of Adidas Web3, revealed that if Tesla had not adopted Bitcoin as a payment method for its vehicles, Adidas might not be able to set foot in Web3 and put forward relevant strategies and projects, He pointed out that “Elon Musk helped us open that door, but only a little bit. Tesla’s move made the Web3 advocates in Adidas start a dialogue to explore what can be done with blockchain technology.” After that, the Adidas Web3 team spent nine months “developing strategies, building foundations, and building a large number of relationships”, and further purchased its own BAYC MFT, and cooperated with gmoney. （ibtimes）

Person in charge of Adidas Web3: The involvement in Web3 was inspired by Tesla

Interpretation of the news:

Adidas Web3 head Erika Wykes-Sneyd recently revealed that it was Tesla’s adoption of Bitcoin as a payment method for its vehicles that helped the company take its first steps into the world of Web3. Wykes-Sneyd explained that “Elon Musk helped us open that door, but only a little bit. Tesla’s move made the Web3 advocates in Adidas start a dialogue to explore what can be done with blockchain technology.”

Web3, also known as the decentralized web, is being hailed as the next big thing in technology. Built on the blockchain, it promises a future where users have more control over their data and online identity. However, it can be challenging for companies to navigate this new ecosystem and develop strategies that take advantage of its potential.

Adidas was no exception, but Tesla’s move gave the company the impetus it needed to take the leap. Wykes-Sneyd revealed that the Adidas Web3 team spent nine months “developing strategies, building foundations, and building a large number of relationships” after Tesla’s adoption of Bitcoin. This led to the company purchasing its own Bored Ape Yacht Club (BAYC) MFT, a rare and valuable NFT, and collaborating with gmoney, a blockchain-powered platform that allows users to trade and manage NFTs and other digital assets.

This is a significant move for Adidas, which has been exploring the potential of blockchain technology for some time. The company has previously experimented with using the technology to track the authenticity of its products and has also partnered with blockchain-based solutions providers to improve supply chain transparency.

In conclusion, Adidas’ foray into Web3 is a clear indication of the growing interest in blockchain technology among major companies. The fact that Tesla’s adoption of Bitcoin played a role in opening the door for the sportswear giant is further evidence of the disruptive potential of cryptocurrency and decentralized technologies. As companies begin to explore what this new ecosystem has to offer, we can expect to see more innovation and collaboration in the coming years.

Overall, the keywords that best describe this message are “Web3,” “Blockchain Technology,” and “Bitcoin.”

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Adidas Credits Tesla’s Adoption of Bitcoin for Opening the Door to Web3

Person in charge of Adidas Web3: The involvement in Web3 was inspired by Tesla

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