3 - 5 minute read
Adidas, a leading global lifestyle and sneaker brand, has expanded its unique and highly sought-after Into the Metaverse ecosystem. The company has released an exclusive collection of Non-Fungible Tokens, known as the ALTS by Adidas collection. These NFT tokens will allow members who possess them to access exclusive merchandise, virtual land experiences, and goods throughout the year.
The collection is the first step on a path to dynamic NFTs, which correlate with various rare aspects and interactive storylines. This represents a new chapter in Adidas’ journey into the world of Web3, with a significant focus on Non-Fungible Tokens.
In December 2021, Adidas first launched the highly successful Into The Metaverse collection that promised holders of the NFT’;s “exclusive access to collaborative merchandise and virtual land experiences throughout 2022.” This collaboration helped it gain a considerable foothold in the rapidly growing NFT industry. A collaboration with NFT influencer gmoney, PUNKS Comic, and Bored Ape Yacht Club gave owners the chance to burn their NFTs and obtain a new ERC-1155 token from the next phase. Along with claiming physical clothing items available exclusively to owners, these original owners of Earlier Metaverse series two-phase can now burn their NFT to obtain a new one.
Chapter 1: ALT[er] Ego starts now 🎯— Indigo Herz (@indigo_herz) April 11, 2023
🪞This is your first step on your journey towards your own ‘ALTS by adidas’ identity.
🎭 At the end of Chapter 3 you will get a unique PFP consisting of countless trait combinations with a rarity rank.
🫀 ALTS by adidas is a dynamic NFT… pic.twitter.com/0D9lrvIy6y
The ALTS by Adidas Collection is exclusive and unique that caters to the needs of owners; it allows users to have significant advantages. Holders can use their specialty store to swap their NFTs for physical clothing wearables, new NFTs from the ALTs collection, stake in Adidas’ ecosystem, some commercial intellectual property rights to their character. On the flip side, it offers access to holder-only community gatherings and token-gated discord channels, among other utilities.
At the time of writing, there has been a 1% surge in floor prices of The Into The Metaverse collection, from 0.57 ETH to 0.59 ETH. The ALTS by Adidas collection has, however, maintained floor prices of 0.59 ETH, indicating that Adidas’ latest release on Web3 is quite popular. Selling over 320 ETH, its total trading volume stands at roughly $613,000.
Adidas is among the top brands in the NFT industry and has achieved notable success in the digital realm. Its popularity has further increased with the involvement of the Italian luxury house, Prada, in the past, partnering on a Polygon (MATIC)-based NFT collection. Recently during the Metaverse Fashion Week, the brand showcased new collections among various other prominent brands in Decentraland.
The Bottom Line
Adidas has released the first chapter of its latest NFT collection – ALTS by Adidas. The new collection offers advantages, offering intellectual property rights, staking, and access to exclusive virtual wearables. The ALTS by Adidas collection is one of Adidas’ few forays into the world of Web3, and as has been seen so far, it seems to be a successful one. The value of their Into The Metaverse ecosystem has increased due to the rarity and uniqueness of the NFTs used by Adidas. The NFT industry is rapidly expanding, and Adidas is among the leading brands in the NFT space, with a considerable amount of engagement within the Web3 universe.