The Outerverse is what we’re calling Outside’s foray into the world of Web3. The name very intentionally reflects our core belief that Outside’s audiences want us to leverage technology to inspire and enable more outdoor participation, more healthy eating, more connection with nature and each other, and more action to protect the planet. In the Outerverse, we believe that technology is a means, not an end.

The Outerverse is about real experiences, about real connection, and about real action. We are driven by a desire to harness NFTs and digital tools like the blockchain in ways that knit people together in common cause, and that directly return a generous share of the business proceeds to groups that are driving progress around diversity, participation, and planet. To that end, we will be giving 20% of the net revenue from our Outerverse Passport and NFT sales to nonprofits in the DEI and sustainability fields.

In our vision of the future, we win if our users shut down their computers, stop staring at their screens, and go hiking. And we win even more if they convince their friends to do the same. That’s radical, and that’s a really different vision of corporate success than you’ll find anywhere in traditional tech or media. If you want to be part of something disruptive, join the Outerverse.

Outside is planning to mint 10-20 series of Outside-branded NFTs in 2022, in addition to 20 or more NFT series in partnership with well-known brands and creators. The first minting will be very special: We're calling this inaugural NFT the Outerverse Passport because it unlocks special immediate and future benefits. Each of our subsequent NFT series will include approximately 1,000 or more original NFTs, each a unique collectible or piece of digital art representing an aspect of the outdoor life we love. We are working with an experienced third party, Superlayer.io, to mint the NFTs and distribute them through Outside.io, our new crypto marketplace where NFTs will be bought, sold, and traded.

On April 4, we announced the launch of the Outerverse, our new web3 ecosystem; Outside.io, where users can sign up for special alerts about our first NFT drop; and a Discord channel where interested followers can learn more about the Outerverse and chat with Outside employees. On Discord and the website, we will share more education about web3 and NFTs, and we'll let followers know how to participate in our NFT launch. We expect the Outerverse community to grow rapidly while we finalize the design of our first NFTs and other details.

Around June 1, we will give Outside+ members advance notice to purchase the Outerverse Passport, a limited-edition NFT that will provide special access to future NFT drops. Outside+ members will be notified 24 hours in advance of the Outerverse Passport being promoted to the general public, then we will open the sale to all audiences. When the NFTs drop, users will need to have a crytpo wallet like Phantom to download and store their passport. The Outerverse Passport will go on sale for $300; as an additional, non-transferable benefit, every initial Passport holder will receive a 3-year Outside+ membership.

For early access to the Outerverse, a user needs to purchase an Outerverse Passport for $300. Each Passport grants the user a unique collectible NFT, early access to future Outside-curated NFT drops and experiences, and surprise real-world benefits from creators and partners. As an additional, non-transferable benefit, every initial Passport holder will also receive a 3-year Outside+ membership, which comes with full access to all of our content, special entry to sports events, gear discounts, GPS apps, streaming movies and TV series, and much, much more. Learn about all of our Outside+ perks here.

Web3 and the creator economy are game-changing trends that intersect with our business in important ways. We believe these innovations will both shape the future of content, membership, and brand marketing in transformational ways -- from payment to IP to audience engagement to the ways that content is created, curated, and rewarded -- and that it's critical for Outside to innovate in this space and gain insights on how our business needs to evolve. NFTs also present a terrific opportunity for us to bring our ethos to this emerging space – and to help make sustainability, inclusivity, and healthy, active living a greater part of the dialogue.

It's fairly simple. We will distribute 20% of the net revenue from sales of the Outerverse Passport and subsequent new NFTs to nonprofit groups in our space that are working on participation, inclusivity, and planet. We are creating multiyear partnerships with 5-6 nonprofits, ranging from grassroots to internationally known charities. We will also share royalties with these partners from secondary sales that occur on the Outside.io marketplace. Stay tuned for an announcement coming soon about our nonprofit partners.

The original blockchain systems and forms of crypto (like Bitcoin) required massive computing power, because their distributed-ledger and proof-of-work models meant every transaction involved thousands and thousands of computers running code to update and store data records. And all of that computing power resulted in electricity demands that are simply unsustainable from a climate perspective. As a company that depends on a healthy environment, we are mindful of this challenge and are choosing the lowest-impact solution at every turn. Fortunately, the Web3 community also cares about the planet and is rapidly developing alternative models (like proof-of-stake) that are highly secure but radically reduce greenhouse gas emissions.

A leader in this evolution is Solana, the blockchain on which we have chosen to build the Outside.io marketplace. Solana uses advanced proof-of-stake methodologies instead of proof-of-work, which requires a tiny fraction of the energy of a traditional blockchain transaction. Solana reports that one transaction uses only slightly more energy than two Google searches, which represents an extraordinary improvement over the methods that existed just a year ago. Solana has also been purchasing carbon offsets to neutralize the footprint of its entire blockchain.

In addition to choosing a low-impact blockchain for Outside.io, we are calculating and neutralizing 100% of the carbon emissions from our NFT transactions. We have retained a third-party expert to report on the Outerverse footprint, and we will share the numbers with Outside.io for full transparency. In advance of our first NFT drop, we have already neutralized far more carbon than our most optimistic transaction forecasts say we will produce. By purchasing 5,400 tons of carbon allowances on a respected government-regulated market, we have neutralized the equivalent of 30 rail cars of coal being burned. For more details on Outside’s climate commitments, partners, and actions, please visit our corporate sustainability page.