Adidas launches Chapter 1 of its ALTS Dynamic NFT collection
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Global sneaker and lifestyle brand Adidas has expanded its Into The Metaverse non-fungible token (NFT) ecosystem with the release of the ALTS by Adidas collection.
Adidas first released its Into The Metaverse collection in December 2021, promising holders of the NFTs “exclusive access to collaborative merchandise and virtual land experiences throughout 2022.” The first Web3 exploration, a collaboration with NFT influencer gmoney, PUNKS Comic and Bored Ape Yacht Club, allowed holders to burn their NFTs to receive a new ERC-1155 token from the next phase of the project and claim physical clothing items.
Holders of NFTs from the first two phases of the Into The Metaverse collection can now burn their NFTs to receive a new NFT from the Ethereum-based ALTS by Adidas collection, paying only for gas fees. The new phase in Adidas’ Web3 journey involves a dynamic NFT with eight different “EVERYTHING[er] egos” corresponding to different rarity traits and interactive storylines.
The new collection will offer various tools for holders, including a stake in the ALTS by Adidas ecosystem, some commercial intellectual property (IP) rights to their character, access to exclusive virtual wearables, access to holder-only community collections and token-gated Discord channels, among other things.
At the time of writing, the Into the Metaverse collection has a floor price of 0.57 ETH (about $1,000) and has done 48,771 ETH (about $93.4 million) in trading volume since launch. The ALTS by Adidas collection has a floor price of 0.59 ETH (about $1,100) and has done 320 ETH (about $613,000) in trading volume so far.
Adidas has continued to bring its sporty style to Web3 through digital clothing collections and a virtual styling tool for existing profile picture (PFP) NFTs. It has also released several NFT collections, including the sports-themed Blue Pass, an art collection titled Raws x Adidas, and an advisory badge for the 15 members chosen to advise the company on its Web3 expansion.
Adidas has previously collaborated with Italian luxury house Prada on a polygon-based NFT collection, and most recently the brand showcased new styles in Decentraland during the platform’s Metaverse Fashion Week. According to a Dune Analytics dashboard, Adidas continues to be one of the top brands in the NFT space.
