Sportswear Giant Adidas Swooshes In On NFTs, Launches Collection

Adidas joined the NFT league. Adidas will unveil Into the Metaverse, a brand new NFTs line. This will give consumers access to a virtual club. Adidas says that NFT members can purchase limited-edition clothing and that they will have the opportunity to help shape the products and experiences the company creates for their NFT community.

Adidas Leads NFT Adoption

Adidas unveils Originals: Into the Metaverse. This is a collaboration between non-fungible token (NFT), collections Bored Ape Yacht Club and PUNKS Comic. Gmoney, a crypto influencer, has also been revealed. Nearly 35,000 NFTs are available for purchase for a fixed price. 20,000 will be reserved for the early sales of owners from partner collections.

Erika Wykes-Sneyd was VP Brand Communications for Adidas Originals.

“This is where people spend their time, how they want to express themselves and what’s going to force brands to act in ways that no one’s comfortable with yet, and it is already in our DNA to be a true collaborator brand.”

The Sneaker and Sportswear Company announced an increase in their team during November’s last week. with Coinbase, calling the metaverse “exciting.” Adidas also hinted at collaborating with The Sandbox, a metaverse game. Adidas has announced its partnership with Gmoney (cryptoinvestor Gmoney), and Punks Comic in the first week December.

A collector token was sold by the shoe giant last month and could have been used to redeem future rewards. It was not clear when or how much it would redeemable. This left customers confused and led to some wondering if Adidas was trying to catch up to other brands by rushing to NFTs.

The Originals collection, on the other hand, which debuted less than a month after Adidas’ first token appearance, is far more on-brand. Furthermore, given the reach and popularity of its partners, Adidas’ launch puts it in a strong position to compete with brands with more established ventures in this market.

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Adidas has also purchased a “Indigo Herz” NFT from the Bored Ape Yacht Club (BAYC). According to the wallet’s NFT summary, the BAYC NFT Indigo Herz is formally known as Bored Ape Yacht Club #8774, and Adidas has a tiny collection of NFTs.

“Leading up to the launch, Adidas confirmed members were given the chance to redeem a POAP (Proof of Attendance Protocol) NFT status badge, commemorating their presence at the start of the brand’s metaverse journey,” the company’s NFT collection announcement details.

“It’s so refreshing to see a culturally influential brand like Adidas Originals work so closely hand-in-hand with the NFT community,” said Gmoney. “At every step, they’ve included the right partners from the crypto, metaverse, and NFT community and listened to their thoughts at an early stage.”

Nike, Adidas’ major competitor, declared last month that they are interested in the Metaverse. On November 18, Nike published a blog post titled “Nikeland,” detailing how the company has established itself in the popular virtual environment Roblox.

Nike took a significant step Monday, purchasing NFT company RTFKT. This NFT company is well-known for its innovative digital sneakers and strong NFT community.

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