• Adidas releases Chapter 1 of the NFT collections into the market.
• Holders will receive exclusive access to “collaborative merchandise and virtual land experiences throughout 2022”, with utilities such as a stake in ALTS by the Adidas ecosystem, commercial IP rights, access to exclusive virtual wearables and token-gated Discord channels.
• Into the Metaverse NFTs can be purchased for 0.375 ETH ($453), with Virtual Gear wearables also available on the secondary market.
Adidas Releasing New NFT Collection
Adidas has released Chapter 1 of its NFT collection into the market, giving holders exclusive access to “collaborative merchandise and virtual land experiences throughout 2022”. Those who receive the new NFTs only pay for gas fees. The collection is part of Adidas‘ Into The Metaverse project which involves eight different “ALT[er]egos” corresponding to “different rarity traits and interactive storylines”.
Project Details
The first phase of Into The Metaverse includes several community projects, including an official kit for Crawley Town FC in partnership with WAGMI United. Holders are able to claim exclusive physical merchandise using 3D NFTs as tickets – such as gmoney’s signature orange beanie, Hash Hoodie and Firebird Tracksuit – as well as receiving mysterious airdrops hinting at subsequently launched Virtual Gear collections in June 2022.
Utilities
Holders are assured various utilities from their NFTs from Ethereum-based ALTS by Adidas collection; this includes a stake in ALTS by the Adidas ecosystem, some commercial intellectual property (IP) rights to their character, access to exclusive virtual wearables, entry to holder-only community gatherings and token-gated Discord channels among others.
Cost
Into The Metaverse’s 30,000 digital collectibles can be purchased on Ethereum blockchain for 0.375 ETH ($453). Additionally, Virtual Gear wearables can be purchased on the secondary market with prices starting at floor price of $20 USD per item..
Conclusion
With its launch of Chapter 1 of its NFT collection into the market, Adidas continues its expansion into Web3 Quest through Into The Metaverse project that could potentially become billion dollar markets with its wide range utilities offered for holders at an accessible cost point .