Crypto

Adidas Originals Set to Release Its First NFT Line

Adidas Originals Set to Release Its First NFT Line

To further metaverse objectives, the legendary sportswear brand Adidas recently joined with three notable members of the NFT space: Bored Ape Yacht Club, GMoney, and PUNKS Comics.

Adidas Originals has announced the release of their Into the Metaverse non-fungible token (NFT) collection.

Although there are few details about the supply at this time, it has been revealed that the digital asset will be used as an access token, giving holders exclusive access to future merchandise, physical and digital products and services, rewards within The Sandbox’s newly acquired land plot, and more.

The collection will go on sale on the company’s official website on December 17 for 0.2 ETH, which is roughly $810 at the time of writing.

NFT influencer GMoney spoke with Cointelegraph about his hopes for Adidas’ entry into the NFT market:

“They have been very thoughtful and deliberate on their entrance into space. I think they will help empower communities and creators by building together.”

Adidas Originals announced their entry into the metaverse on Dec. 2 with partnerships with Bored Ape Yacht Club, GMoney, and PUNKS Comic, claiming that the metaverse will be a place “where everyone can express their most creative ideas and be their most honest selves.”

In addition, Adidas purchased Ape #8774 — a blue-furred, heart-bespectacled ape with a fisherman’s hat and gold hoop earning — on Sept. 17 for 46ETH, a little over $150,000 at the time.

The ape was dressed in an Adidas tracksuit with the emblems of the three partners, as well as a sideways Adidas logo when the announcement was made.

GMoney discussed his involvement in helping the brand enter the space in a culturally responsible manner, saying:

“I have been speaking to them since April, helping to guide them in their strategy, offering feedback on ideas, to make sure that they enter the space in a truly authentic manner. And I think we’re seeing that play out now, as Adidas has had the most authentic entry into the space so far.”

As the benefits of Web 3.0 become clearer, several well-known firms, celebrities, and cultural influencers have announced their ambitions to develop or participate in the NFT and metaverse sector.

Nike, a direct competitor, and fellow sportswear giant, announced their debut in the metaverse area on Tuesday with the acquisition of virtual footwear brand RTKFT. RTFKT’s extremely successful CloneX avatar drop, an NFT project Cointelegraph discussed in full with one of the co-founders, Chris Le, in early October this year, preceded the unannounced purchase.

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.