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The Adidas planned launch of its NFT collection is a great way to contribute to the growth of the fast-budding metaverse evolution.
German multinational corporation focused on apparel, Adidas AG (OTCMKTS: ADDYY) is set to launch its Non-Fungible Token (NFT) collection on Friday, December 17, a move that will further deepen its drive to become a prominent player in the fast-growing NFT ecosystem. As reported by The Verge, the company’s NFT Collection is themed Into the Metaverse and little information was shared about what it will look like.
Each of the NFT in the collection will be priced at 0.2 ETH which is approximately $800 going by the current price of Ethereum at $4,035.89. Adidas did not disclose the total number of NFTs that will make up the collection and there is no dedicated countdown to the exact timing the NFT will drop.
Gaining access to the NFT will qualify Adidas fans to exclusive merchandise drops. In the prior weeks leading to the confirmation of the NFT collection launch, rumors have it that Adidas has a partnership with prestigious NFT collection, Bored Ape Yacht Club (BAYC), Punks Comics, and GMoney, the NFT collector that has been advising Adidas on its plans to enter into the metaverse.
“Adidas is in the metaverse,” Tareq Nazlawy, Adidas’ senior director of digital growth, tells The Verge. “We want to figure out what would be the dopest thing to do in that space and start involving the communities we’re activating through this [NFT] in how we should manifest in the virtual world.”
The merchandise being fronted is billed to be co-branded with the picture of a BAYC NFT, a GMoney logo, and a Punks Comic emblem. Beyond the access to the physical merch, Adidas said holders of the Into the Metaverse NFT will also be able to gain exclusive access to virtual products with plans to add more value to the community as time goes on.
“There will be other experiences we’re putting together,” Erika Wykes-Sneyd, VP of marketing for Adidas Originals, tells The Verge. “The intent is this thing, this NFT, you belong to a community, and we continue to add value to that over time, and it’s gonna also evolve with what we’re learning about the community how they’re changing and evolving.”
Adidas NFT Collection: Contributing to Metaverse Evolution
The Adidas planned launch of its NFT collection is a great way to contribute to the growth of the fast-budding metaverse evolution. Big brands particularly in the apparel industry are dipping their feet into the NFT space to recreate an experience for their global fan base.
While Adidas once purchased a Bored Ape NFT which it renamed Indigo Hertz – and outfitted it with a custom Adidas-branded tracksuit, Nike Inc (NYSE: NKE) recently acquired RTFKT Studios, which it calls “a leading brand that leverages cutting edge innovation to deliver next-generation collectibles that merge culture and gaming.”
With these brands actively invested in the NFT space, the future of the ecosystem is bright and these companies can help accelerate the mainstream adoption of NFTs.