Adidas, the German sportswear giant, is the latest brand to enter the metaverse. It has launched its first NFT (nonfungible token), digital and physical product drops.
Adidas Originals has teamed up with major NFT names – Bored Ape Yacht Club and gmoney, as well as the team behind Punks Comic to release the product.
The NFTs, which go on sale Friday, will allow buyers to access virtual wearables for the blockchain-based gaming world of The Sandbox as well as a physical tracksuit, hoodie and gmoney’s iconic orange beanie.
NFTs cost 0.2 ETH (a kind of cryptocurrency) or 714 euros.
Adidas also bought an NFT for its own, a Bored Ape Yacht Club NFT named Indigo Herz.
‘Limitless possibilities’
“As part our ambition to celebrate original ideas, we’ve landed in the forefront of creativity which is the open Metaverse,” Erika WykesSneyd, vice president of Adidas Originals marketing & communications Erika WykesSneyd.
Adidas Originals is naturally drawn to this wild place. It’s a place where there are endless possibilities and everyone can express their best ideas and get rewarded.
In recent months, NFTs have seen a surge in popularity. These are digital assets that are unique and can be purchased or sold online.
You can turn art, photos, videos, memes, and other media into an NFT by “tokenizing” them. This is a digital token that proves ownership.
The fashion industry is taking note of the NFT market. As technology advances, we are ever closer to realising the full potential of the “metaverse”, a virtual world that we would live in, many experts believe it to be the next internet age.
This week, Karl Lagerfeld, a luxury fashion house, and Boohoo, a fast fashion giant, launched their NFT collections. They represent the variety of brands that embrace the metaverse.
This week, Nike, the sportswear giant and Adidas rival, doubled down on its commitment towards the metaverse, snapping up RTFKT. RTFKT is a virtual sneaker company and fashion start-up that creates NFTs for digital worlds.
