The brand with the three stripes is the latest to jump into the Metaverse, and it did it in proper style.
Adidas sold more than $22 million worth of NFTs this weekend, according to a report by The Verge. The storied athleisure company teamed with popular NFT group Bored Ape on the project, as well as NFT project Punks Comic and cryptocurrency investor GMoney.
The Adidas Originals drop consisted of 30,000 NFTs sold for 0.2 ETH each, or about $765. The NFTs were sold in two rounds. An initial 20,000 were made available to those holding Adidas Originals tokens, GMoney tokens, Bored Ape Yacht Club NFTs, Mutant Ape Yacht Club NFTs, and Pixel Vault NFTs. The other 10,000 were made available to the general public a bit later, and the whole collection sold out in a few hours.
The NFTs are paired four exclusive pieces of physical merchandise, including a hoodie as seen on the Bored Ape in Punks Comic #2, an adicolor Firebird tracksuit (including a track top and pants), and GMoney’s signature orange beanie.
The clothing items are to be shipped sometime in 2022 during a series of “product redemption windows,” according to Adidas’ Metaverse FAQ page. Anyone still holding their Adidas Original NFT can prove ownership via their crypto wallet and follow further instructions.
If you missed out on the drop, you can try to buy some Adidas Originals NFTs on the secondary market via Opensea. Otherwise, this Bored Ape yacht has sailed.
Adidas joins a long line of fashion brands getting into the NFT craze. Brooklyn-based streetwear company MISHKA recently launched its first round of NFTs, with plans to pair those with physical goodies as well. Nike recently made headlines with the acquisition of RTFKT, a digital fashion company that creates shoes, skins and other accessories for in-game use. Tommy HIlfiger, too, recently dropped an exclusive collection of skins and accessories for Roblox, a metaverse gaming platform that counts more than 43 million daily active users.
Read more about Adidas’ successful first NFT drop via The Verge.