Adidas Originals has made a memorable yet distinguished entry into Web3 with its firm commitment to the metaverse. In collaboration with BAYC, PUNKS Comic and gmoney, Adidas has released multiple mysterious NFT collections that led up to the reveal of its virtual wearable fashion line. Despite this being the brand’s first step into the metaverse, it must be remembered that this is just the beginning of its Web3 endeavours.
Here’s everything you need to know about Adidas Originals Web3 presence:
What has Adidas done in the metaverse?
Adidas Originals has been at the forefront of the digital fashion revolution since making a splash in Web3 during 2021 by purchasing a Bored Ape and landing in The Sandbox. The globally recognised lifestyle company, in collaboration with distinguished NFT brands, released a digital wearable collection, “Into the Metaverse,” as its pledge to the metaverse. Further, through the launch, Adidas aims to explore every feasible utility within Web3 to uncover the potentiality of its wearables.
Does Adidas have an NFT?
Yes! In fact there are several NFTs in the ecosystem. Firstly, Adidas Originals: Into the metaverse minted back in December 2021. Only members of BAYC, PUNKS Comic and gmoney’s communities were able to take part in the mint.
Then phase two and Virtual Gear followed.
What is the Adidas Originals NFT collection “Into the Metaverse”?
Adidas Into the Metaverse NFT is a collection of 30,000 digital collectibles on the Ethereum blockchain. The NFT grants holders access to exclusive physical merchandise along with “ongoing” digital utility. Furthermore, notable figures Gmoney, the physical comic book PUNKS Comic, and the powerhouse Bored Ape Yacht Club collaborated on the project.
The Into the Metaverse NFT collection launched on December 17, 2021, and has since released 3 phases. Thanks to Indigo Hertz, Adidas’ Bored Ape, the community has always been informed and kept up to date with the release of the following phases:
The first phase of the Adidas Originals collection included the launch of several community projects. This consists of the Prada re-source art project in collaboration with Zack Lieberman, and Hot Seats with Bad Bunny. The team at Into the Metaverse also partnered with WAGMI United to become the official kit supplier for Crawley Town FC.
Holders then advanced to phase 2 of the Into the Metverse experience.
The next phase enabled holders to use their 3D NFT as a ticket to claim exclusive physical merchandise that was available to claim by only paying gas. The holders were granted the ability to claim a gm gm Beanie (gmoney’s signature orange beanie), the Hash Hoodie, and the Firebird Tracksuit. Upon the merch claim, holders received a Phase 2 NFT. Moreover, each holder was surprised in June 2022 with a mysterious airdrop that hinted at the project’s recently released Virtual Gear collection. To specify, holders that held through the snapshot received an Adidas Originals Capsule NFT in their wallet. This was the largest airdrop in NFT history.
On November 5, the Capsule collection evolved into The Impossible Box, displaying the true meaning of Phase 2. The metadata was updated, and the holders were then able to “Unbox The Impossible” and reveal the contents of the capsule. And voilà, the Adidas Virtual Gear Collection came to life. As a side note, holders can also hold their NFT without burning it and wait for the next phase of the project.
What is Adidas Virtual Gear?
Adidas’ Virtual Gear is the brand’s first NFT collection of interoperable digital wearables. In other words, each NFT will be compatible with other identity-based projects, PFP NFT collections and virtual worlds. Designed to strengthen Web3 and begin their metaverse pledge, the collection comprises 16 controversial yet fascinating designs. Further, holders had a choice to burn their capsule(s) to reveal which “impossible” design they would receive. With these points in mind, the fungible Virtual Gear Collection has redefined virtual fashion while creating palpable value for its holders.
How much are Adidas NFTs worth?
For folks that are eager to join Adidas’ ecosystem, they can purchase an Into the Metaverse NFT for 0.375 ETH, which is $453 USD at the time of writing this. It’s worth noting that the items in the collection have all the same artwork hence the absence of different rarities.
Those who solely desire Virtual Gear wearables are able to purchase the NFT on the secondary market. The collection is currently sitting at a floor price of 0.038 ETH ($46.50 USD). In contrast to the Into the Metaverse collection, Virtual Gear has different rarities so future holders have several options. As a side note the virtual DMT BAYC hoodie is the most limited design in the collection, with one selling for 8.5 ETH.
In addition, those that want to test their luck can purchase an Adidas Impossible Box for 0.094 ETH ($115.00 USD). Holders will be able to burn the Impossible Box to reveal a randomly given Virtual Wearable. As a sidetone, there are still 13,997 Impossible Boxes to be revealed.
How many NFTs did Adidas sell and how fast?
What do you get with Adidas originals?
Despite the claiming period being over for the physical merchandise in Phase 2, buying an Into the Metaverse NFT can still benefit you. By purchasing an ITM NFT today, you will gain future digital and physical utility down the line. This includes being able to attend an exclusive ITM holder event that will take place in the first few weeks of January. As of yet, Adidas has not revealed any other details regarding its future plans. However, Indigo Hertz did say that they will be “expanding and deepening our virtual & physical gear collections.”
Additionally, intending buyers also have the option to purchase a Virtual Gear NFT, which will give them an interoperable digital wearable. Furthermore, if you own one of Adidas’ compatible partner collections, such as a BAYC, MAYC, or Inhabitants, the brand has something special for you. They recently released a PFP styling tool, enabling Virtual Gear holders to deck out their NFT with their virtual wearable.
Where can I buy Adidas’ metaverse-wearable NFTs?
Those interested can still buy the Into the Metaverse and the Virtual Gear NFT on secondary markets in spite of the collection being sold out. The collections are both available on marketplaces like Coinbase, Opensea and the Gmoney market.
Adidas and the future of the metaverse
The virtual and physical gear collections aren’t the only thing Adidas is expanding on in the future. The collaboration intends to expand its entire operation, which includes establishing a new creative studio in January 2021. It will be entirely dedicated to building strategy, product & technology, partnerships, and creative roles. Additionally, the team intends to launch a council in Q1, acting as a sounding board for their ambitious plans. In sum, Adidas is strengthening their efforts while laying the groundwork for future success in the metaverse.
By the same token, Adidas is also creating a PFP collection in the coming future. Each PFP is an interoperable identity which can be used to express yourself in the metaverse. Currently, there is no information about the launch date of the collection.