During its debut weekend, the first NFT from Adidas Originals’ “Into the Metaverse” project managed to generate 11,391 Ether (ETH) worth more than $43 million, on the OpenSea marketplace.
When ranked with respect to trading volume; the Adidas collection rose to the second position on the marketplace after RTFKT’s Clone X and Takashi Murakami collection.
In partnership with PUNKS Comic, Bored Ape Yacht Club, and gmoney, Adidas Originals co-developed a digital asset and put up 30,000 copies of the same item for sale on December 17. Nearly 20,000 copies of the Phase 1 NFT have already been sold. So far, the project has managed to make $43 million within 72 hours.
Based on the company, $15.5 million was made mainly in the Early Access mint that had to stop and restart after a few hours as a result of technical issues affecting the Mutant Ape Yacht Club which could not mint the Adidas NFTs.
The NFT is not a collector’s item. Instead, it is an access token that gives its owner exclusive access to virtual wearables within the Sandbox gaming metaverse. Also, the players can redeem corresponding physical products next year.
In the metaverse, challenging the impossible is the reality. On Friday we landed in the world of Web3 with one of the most widely-distributed NFT drops in history.
1/10
— adidas Originals (@adidasoriginals) December 20, 2021
Nonfungible token owners can also get a physical version of the PUNKS Comic Issue 2: X Marks the Drop. That version is a graphic story about all of the characters that feature in the Adidas collection. The same comic is also available separately for buying on PUNKS Comic’s OpenSea profile.
Buy Crypto NowAdidas Plants Sneakers In The Metaverse
Pixel Vault, PUNKS Comic’s developer team, allegedly took some of the money raised in the OpenSea sale and re-invested it in the PUNKS community treasury. After tweeting about a partnership with Coinbase and publishing its Sandbox land plot, Adidas has strongly planted its sneakers in the metaverse. The sneakers come with the success of its exclusive nonfungible token (NFT) drop.
Rival Nike has also not been left behind. The company has expanded its digital footprint by working with the virtual sneakers and collectibles brand RTFKT, which is the top trending OpenSea collection at the time of writing.
