Adidas Unleashes Groundbreaking ALTS NFT Collection
Adidas, the well-known sneaker and lifestyle brand, has recently expanded its non-fungible token (NFT) ecosystem called “Into The Metaverse” with the release of a new collection called “ALTS by Adidas”. This new collection introduces a dynamic NFT with eight different “ALT[er] egos” that correspond to different rarity traits and interactive storylines. By burning their NFTs from the first two phases of the Into The Metaverse collection, holders can receive a new NFT from the Ethereum-based ALTS by Adidas collection. The Into The Metaverse collection was first released in December 2021, and it promised holders of the NFTs “exclusive access to collaborative merchandise and virtual land experiences throughout 2022.” Adidas’ 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. 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 its launch. Adidas has been actively participating in the Web3 space through various digital apparel.
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