PUMA Releases NFT to Seize the Traffic of “Z Generation”
International sports brand PUMA is looking for new icon in NFT wave
On March 2nd, PUMA Twitter replaced the classic cougar leaping avatar with the Cool Cats series NFT image. Just a few days ago, it also changed the official Twitter name to the ENS domain name “PUMA.eth”.
There are various signs that PUMA is trying to connect with NFT and the Metaverse.
Prior to this, sports brands such as Nike, Adidas, and Li Ning had all made arrangements in the NFT field. Nike acquired the virtual sneaker company RTFKT in December last year, using NFT as a medium to accelerate digital transformation; Adidas not only settled in The Sandbox virtual space, but also cooperated with projects such as Bored Ape Yacht Club to issue NFT; Li Ning NFT sneakers sold for more than 1.12 million auctioned at the price of Yuan.
Sports brands have taken the initiative to enter the NFT market. In addition to selling NFTs that can bring additional revenue, it is a deeper reason to increase their appeal to the younger generation. A report from online research platform CivicScience shows that people who are interested in NFTs and those who like sneakers and collectibles are a category of people, and their age group is between 18 and 24, which is precisely the young people known as “Z Generation”.
According to marketing research agency EternityX, launching NFTs can not only enhance the brand image, but also attract a whole new generation of audience, because it shows that the brand is already at the forefront of the trend and has a common language with the trend-setting Z Generation and millennials .
NFT is becoming the new traffic key for brands like PUMA.
PUMA official push avatar changed to “Cool Cat” NFT
When Rudolf Dassler founded PUMA in 1948, his goal was simply to build a sneaker factory. After more than half a century of development, PUMA has grown into a world-renowned large multinational company. Now, a change for the Metaverse is coming, and PUMA has begun to seek transformation in this torrent.
On March 2nd, PUMA official Twitter replaced the classic Cougar Leaping avatar with a blue cat with an orange hat and trendy glasses, which is Cool Cats, one of the popular series NFT in the field, implying that PUMA is bound to NFTs from this moment on.
Just 4 days ago, PUMA renamed its Twitter account “PUMA.eth”, and this ENS (Ethereum Domain Name Service) domain name is actually an NFT. The attitude of PUMA is clear — — this global sports brand seems to be going to show its strengths in the Metaverse and NFT now.
The change did not come on a whim. As early as January this year, PUMA posted on LinkedIn the position of interim Digital Culture Manager, which requires people to build presentations and materials around Web3 projects. To identify and review potential companies that PUMA is working with in the Web3 space. To educate on Web3 Departments of PUMA, etc., and they also need to understand the Web3 field, including NFT, Metaverse, DAO, etc.
The above new actions set the tone for PUMA’s development in 2022, and a “virtual shoe factory” seems to be in the works.
After changing the new avatar, PUMA official tweet asked netizens how they thought about the change.
In the comment area, COOL’s evaluation was brushed up, and people didn’t seem to feel any incongruity with the combination of PUMA and NFT. However, some people think that this blue cat is not prominent enough, and some people post NFT pictures of the Big Cats series, thinking that cool big cats are more suitable for this brand.
In the eyes of the outside world, it is not surprising that PUMA enters the NFT, but it is strange that it does not “do it” with the NFT, since its competitors such as Nike, Adidas, Li Ning, Anta and other sports brands have already made arrangements on NFT before PUMA.
In December, Nike acquired virtual sneaker company RTFKT, a 2020 startup that creates NFTs for sneakers and other collectibles, for an undisclosed sum. In February last year, RTFKT and teenage artist FEWOCiOUS jointly launched three NFT sneakers, priced at $3,000, $5,000, and $10,000 respectively. Such a high price did not stop fans’ enthusiasm for buying, and 600 pairs of virtual shoes were sold in just 6 minutes.
Perhaps this sale allowed Nike to see the broad market for NFT sneakers. Nike CEO John Donahoe said the acquisition is another step in Nike’s accelerated digital transformation. Recently, Nike has also filed a trademark application for the sale of its sneakers, apparel and other NFTs emblazoned with its famous logo. In addition, Nike has also launched a virtual gaming space on a platform supported by Robles Games, where users can dress up their avatar with Nike virtual clothing there.
Another sports brand, Adidas, launched 30,000 pieces of “Into the Metaverse” series of NFT works in December last year, and also obtained a virtual land in the Metaverse project — — The Sandbox, to display brand culture. Not long ago, Adidas joined hands with Prada to launch Adidas for Prada Re-Source, the first open Metaverse and user-generated NFT project in collaboration with digital artist Zach Lieberman.
It can be said that it has become a trend for sports and fashion brands to actively seek to combine with NFT, and now PUMA is here.
NFT becomes an important medium to please young people
Since PUMA’s cougar LOGO image is a cat, the brand likes to call itself a “big cat” on social media. These days, PUMA has frequently displayed cat-related NFTs on Twitter to increase its marketing efforts.
In fact, after PUMA changed its iconic LOGO avatar to NFT, it is no longer enough to simply use “marketing” to summarize its NFT actions.
Whether it is recruiting specialized NFTs, Metaverse talents, or registering ENS domain names, it shows the intention of the old sports brand to make a strategic transformation to the NFT and Metaverse fields.
Having said that, why are these sports brands starting to like to associate with NFTs, just because virtual shoes can sell high prices and increase revenue? A report from online research platform CivicScience lays out a more critical reason.
CivicScience found that people who are interested in NFTs and those who like sneakers and collections are a category of people, and their age group is between 18 and 24. These younger groups are very familiar with NFTs, and 14% of them have NFT investments experience, 18% expressed interest in NFTs.
18-to-24-years-old just covers the category of the Z Generation, which are born from 1995 to 2009, they are the mainstream of NFT consumption. In other words, NFT has become a trendy plaything for the younger generation, and the layout of brands in NFT helps them capture the preferences of young people and capture this new batch of traffic.
From the history of PUMA’s development, we can see that the young group has always been its most important customer group. In the 1970s, PUMA added hip-hop graffiti culture to shoes and clothing, which was welcomed by young people around the world.
It also brought its own sneakers to the green field. In 1962, the football king Bailey wore PUMA shoes and won the world championship with his Brazilian teammates, and in 1986, the football superstar Maradona wore PUMA’s “KING” shoes and took the Hercules Cup back to Argentina.
Just imagine, when other brands are releasing new NFT trendy products, brands that have always been avant-garde and trendy are indifferent, would young people evaluate them as self-reliance, Or outdated?
As a sports brand with a long history, PUMA’s popular cougar image and popular shoes and apparel can all be involved in NFT with IP elements. In terms of sales, PUMA is also a master of “hunger marketing”.
The previous PUMA THRIFT series of sports shoes only produced 510 pairs, which once aroused the enthusiastic collection of fans. These IP attributes and collection attributes of products are the best application scenarios of NFT at present.
According to marketing research agency EternityX, launching NFTs can not only enhance the brand’s image among existing audiences, but also attract a whole new generation of audiences, because it shows that the brand is already at the forefront of the trend, connecting with existing and new fans, especially the highly desirable dynamic, trend-setting Gen Z and young millennial consumers who share a common language.
Furthermore, given the unique and bespoke nature of NFTs, owning a brand of NFTs could mean enhancing the consumer experience, new abilities to express and define themselves to the world, which are top priorities for younger audiences when making purchasing decisions. EternityX believes that NFTs provide a great opportunity for brands to collect and expand first-party data from NTF owners to understand their behavior and preferences, which can also inform subsequent design and production.
A typical example is that RTFKT once posted photos of Tesla founder Musk wearing virtual shoes on social media. At first, people did not know that these shoes did not exist, and they went to inquire. When people understand the “virtual” attributes of this pair of shoes, they are even more fascinated. Ultimately, the virtual shoe sold for $15,000.
This example gives brand manufacturers an inspiration. Before a new shoe is officially released, they can launch the NFT version of the same product, which can not only warm up the new product, but also learn how the outside world recognizes the new shoe.
With the help of Nike, PUMA and other brands, NFT will also gain more and more value recognition. It is almost inevitably the next trend and the new traffic key for brands!
(The above information is not intended as investment advice, this article only represents personal opinion)
DappOnline
The world’s leading blockchain ecosystem
Official website https://dapponline.io
Official account DappOnline
Weibo http://weibo.com/dapponline
Twitter https://twitter.com/DappOnline
Chinese telegram group https://t.me/DappOnline_CN
English Telegram group https://t.me/idapponline
Contribution/DApp/Business cooperation
contact@m.dapponline.io
