Adidas has made its entry into the metaverse with the debut of a collection of NFTs that also serve as access tokens.
Adidas has just made its entrance into the metaverse by dropping an undisclosed number of prestigious NFT collectibles. However, this drop is different because the NFTs also act as access tokens for virtual experiences and wearables in Adidas’ land in The Sandbox metaverse.
The NFT collection, titled Into The Metaverse, results from months of collaborations between the iconic sportswear brand and three distinguished members of the NFT space: Bored Ape Yacht Club, GMoney, and PUNKS Comics.
Adidas hasn’t disclosed the exact number of NFTs included in the collection; however on its website page dedicated to the project, it reveals that a minimum of 9,620 NFTs will be minted for general sale, and 380 NFTs will be minted for Adidas and its partners, with a portion allocated toward future events.
We also know that the digital assets went on sale on Adidas Originals’ website on Friday, December 17, for a starting price of 0.2 ETH (about $800). Furthermore, the NFTs will serve as access tokens, meaning that holders of the assets will have exclusive access to future merchandise, physical and digital products (and services), virtual experiences, and rewards within Adidas’ plot of virtual land it recently purchased in The Sandbox.
Hey @adidasoriginals, impossible is nothing in the Metaverse. What if we invite all of the original thinkers and do-ers to design our future together?https://t.co/xQrfAWHBky pic.twitter.com/fTCaqf6fho
— The Sandbox (@TheSandboxGame) November 22, 2021
The German sportswear manufacturer began revealing its metaverse ambitions to the world on December 2, when it announced its ongoing collaboration with the three distinguished members of the NFT space: Ape Yacht Club, GMoney, and PUNKS Comics.
Adidas expressed its interest in the space, stating that digital worlds that constitute the metaverse will be a place “where anyone can express their most original ideas and be their most authentic selves.”
GMoney spoke about his role in supporting the brand’s entrance into the metaverse, saying, “I have been speaking to them since April…to make sure that they enter the space in a truly authentic manner. And I think we’re seeing that play out now, as Adidas has had the most authentic entry into the space so far.”
Adidas previously purchased blue-furred Ape #8774 for about $150,000. The heart-bespectacled ape with a fisherman’s hat and gold hoop earring has since been dressed up in an Adidas tracksuit sporting the logos of the three respected partners. The sportswear company also made the resulting image its new profile picture on Twitter.
Last week, Adidas’ direct competitor Nike also officially entered the metaverse race by announcing the acquisition of virtual sneaker brand RTKFT.