Adidas has recently announced their move into the metaverse and it’s got all NFT and metaverse-enthusiasts excited, not to mention sneakerheads and those into concept art. Stay tuned as we go through details of the Adidas Metaverse NFTs!
Christmas is close which marks the end of the year but 2021 still isn’t over yet! Check out what’s left to cop via our list on the best sneakers to resell this December!
Before we take a closer look at the Adidas Metaverse NFTs, let me help you out if you’re unaware of what they exactly are.
NFTs | What are they?
Short for Non-fungible tokens, NFTs are all the rage in 2021. But what exactly are they?
(Check out our full post here if you want a deep dive on NFTs.)
NFTs are a different class of assets. They are not “Fungible” meaning they do not have any counterparts that are the same.
For example, there is likely only one specific piece of digital art made by one artist that is unique. Another characteristic of NFTs is that they are bought and sold using blockchain technology. In other words, their transactions are conducted with crypto.
The metaverse is a perpetual online 3-D world or a 3-D representation of the internet. A virtual world that is always alive and running and is interactable.
Adidas recently announced their move into the metaverse with quite a few things to show off as well.
Adidas Metaverse NFTs | A Closer Look
Adidas is set to collaborate with gmoney, a leading NFT collector as well as Bored Ape Yacht Club which makes unique ape avatars with proven authenticity.
The 3 stripes are all set to drop several NFTs that are limited to 30,000 for 0.2 ETHER (ETH). In case you’re wondering, that’s around $823 on December 24th, 2021.
The drop also included an early access package with 20,000 reserved for early access on December 14th and 9,620 reserved for the general release. You can buy them on adidas.com although they are currently sold out.
The brand has positioned itself to be the front runner in what they’ve called the “forefront of creativity” with the leading names in the NFT game.
Adidas hopes to establish more partnerships, score better deals, and just be part of what they think is “the future”.
Adidas Metaverse NFTs x gmoney x Bored Ape Yacht Club
This entry into the metaverse included physical as well as digital items. The physical items include some merchandise; however, they will be available sometime in 2022 for no additional cost.
They include the adicolor Firebird tracksuit that is seen on indigo Herz and Courtney. PUNKS Comic #2’s graphic hoodie, and gmoney’s iconic orange hat.
Meanwhile, the digital NFT also includes “Virtual land experiences co-created with the community” along with the NFTS.
Since this is quite a new technology, there were bound to be problems with the launch. The NFT minting process was briefly halted by Adidas due to a technical error after 20 minutes of the release.
This resulted in many transactions failing and people missing out on claiming their NFTs. The real problem came when a lot of buyers fell prey to Ethereum’s infamous transaction charges known as “gas” but with no actual purchases in return.
Although Adidas apologized for the issue, let’s hope they’ve learned from the mistake.
Adidas Metaverse NFT | The Future
We’ll probably see more NFT sneakers in particular from brands such as Adidas.
The German company’s arch-rival Nike has recently invested in RTFCT, which is a brand that specializes in collecting NFT shoes.
RTFKT (pronounced “artifact”) claims to be a leader in the virtual sneaker place and we’ll likely see other major shoe brands invest in similar crypto/NFT companies.
The most interesting part of RTFKT NFTs are the association with physical versions of the actual NFTs for some drops like the Fewocious release which is now worth five figures just for some of the physical shoes.
Nike also recently acquired RTFKT, which was a huge green light to the entire industry, and Adidas is obviously following suit.
It’s an exciting time ahead to be a reseller!
Stick with us to be the first to learn about this emerging industry of footwear in the metaverse.