Adidas introduces an NFT collection with first access to streetwear drops
Adidas has now entered the realm of NFTs, following in the footsteps of other big names. ‘Into the Metaverse’, an interesting new release of NFTs from this apparel brand, was available earlier this month, giving customers access to what is essentially a very exclusive fan club. These NFT holders will be able to purchase limited-edition item drops. Not only that, but members will help define the products and experiences that the company creates for its NFT-owning community.
Adidas has been hyping crypto and the metaverse for a few weeks now. The business has released digital tokens that will provide holders early access to the NFT drop. Rumours started when Adidas started tweeting loosely about the metaverse, as well as when Adidas purchased a Bored Ape and dressed it with a custom Adidas branded tracksuit.
Learn more about how major brands are utilising NFTs, such as Nike’s collaboration with a virtual shoe company that creates NFTs and shoes for the metaverse.
Already in the Metaverse
Starting December 17th, the NFTs were available for purchase on Adidas’ website for 0.2 ETH, or around $800 USD. Adidas didn’t indicate how many NFTs will be sold or whether royalties would be paid on resales of NFTs.
NFT buyers will now have access to both digital and physical Adidas products and experiences thanks to this new release. Initially, these items consist of Indigo’s tracksuit, a sweatshirt with a blockchain address, and an orange beanie. The merchandise is with a trio of collaborators: Bored Ape Yacht Club, the highly sought-after NFT collection; Punks Comics, which recently featured Indigo on the cover of an issue; and GMoney, a pseudonymous crypto enthusiast who’s been advising Adidas on how to enter the NFT space in an authentic way. The beanie is said to be worn by GMoney’s CryptoPunks avatar.
Impossible is (probably) nothing 🚀— adidas Originals (@adidasoriginals) December 20, 2021
More is on the way as Adidas expands its presence in the metaverse. Adidas has a lot of options here as streetwear fans already compete for limited-edition product drops. Not only that but Adidas already has an app called ‘Confirmed’ for selling limited-edition items like Yeezys. The ‘Into the Metaverse’ NFT series simply provides a new (and presumably more exclusive) means to provide those types of drops.
Discover the most recent news on NFTs, such as Crypto.com and Conmebol announcing a new partnership to develop NFTs.