American sportswear and footwear retailer Foot Locker has announced the launch of its first-ever non-fungible token collection.
The initiative goes live in the EMEA region as a part of the FLX membership program, which offers XPoints for every purchase and allows users to win exclusive prizes and rewards. In addition, the membership gives subscribers access to free shipping. FLX members will now receive exclusive access to Foot Locker’s new digital collection.
The NFTs, called “Virtual Stripes Boxes,” are virtual boxes that contain various perks. For instance, the rewards include FLX Points, High Heat Sneakers, and Foot Locker Gift Cards.
According to the project’s official website, the non-fungible tokens will not be static but will change over time. The feature will allow holders to create their digital identities within the Foot Locker space. The NFTs will also grant holders access to a community of like-minded individuals.
To receive a digital collectible, FLX members must have earned 2,000 XPoints. Individuals can purchase garments at any participating Foot Locker and Kids Foot Locker store or online to accumulate points. In this case, one euro equals 100 XPoints. The points can also be earned by completing activities on the user’s dashboard.
To redeem XPoint for the Virtual Stripes Reward, participants must follow the instruction that can be found on their membership accounts. Notably, digital collectibles are not transferrable, do not have monetary value, and can not be traded or sold.
“You will receive a unique collectible with individual traits and rewards. Keep it close because this is just the beginning,” states the project’s website.
It’s worth noting that the initiative is only available for users residing in six countries: the United Kingdom, Germany, France, Spain, Italy, and the Netherlands.
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Source: mPost
