According to a story by The Verge, Adidas sold over $22 million worth of NFTs this weekend. The popular athleisure brand teamed up with the renowned NFT organization Bored Ape on the project, as well as cryptocurrency investor GMoney.
The Adidas Originals release consisted of 30,000 NFTs for sale for 0.2 ETH each, or roughly $765. The NFTs were distributed in two rounds. A total of 20,000 tokens were made available to holders of Adidas Originals coins, GMoney coins, Bored Ape Yacht Club NFTs, Mutant Ape Yacht Club NFTs, and Pixel Vault NFTs initially. Later on, 10,000 more were made available to the general public; nevertheless, the collection sold out within a few hours.
The NFTs come with four exclusive physical items, including a hoodie as seen on the Bored Ape in Punks Comic #2, an adicolor Firebird tracksuit (including a track top and pants), and GMoney’s signature orange beanie.
According to Adidas’s Metaverse FAQ page, the apparel will be sent out during a series of “product redemption windows” in 2022. Anyone who still has their original Adidas NFT may do so by using their cryptocurrency wallet and completing the process.
If you didn’t get a chance to purchase the limited edition, you can try to do so on the secondary market using Opensea.
Adidas is the latest fashion company to join the NFT craze. MISHKA, a Brooklyn-based streetwear firm, just launched its first round of NFTs, with physical items planned to go along with them. Nike recently obtained RTFKT, a digital fashion business that creates shoes, skins, and other accessories for Roblox games.
Tommy Hilfiger has also released an exclusive collection of Roblox skins and accessories in recent weeks. A metaverse gaming platform called Roblox has more than 43 million daily active users and counts Nike among its investors.