Adidas’ Metaverse NFT Collection Sells Out in Minutes
Key Takeaways
The Adidas ORIGINALS: Into the Metaverse NFT collection sold out today almost immediately after its launch.
With 30,000 NFTs in the collection at 0.2 ETH each, Adidas and partners would have made over $23 million from today’s sale.
Minting had to be paused during the sale due to failed transactions, though the problem was later resolved.
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The entire Adidas ORIGINALS: Into the Metaverse NFT collection has sold out within minutes of its public launch.
Adidas Steps into the Metaverse
Despite technical difficulties, the Adidas ORIGINALS: Into the Metaverse NFT collection quickly sold out after today’s launch. The iconic fashion brand’s collection featured 30,000 NFTs for 0.2 ETH each. That would put the money generated by the project’s sale at over $23 million (6,000 ETH).
Adidas’ collection was conducted in collaboration with three big names in the space: Bored Ape Yacht Club, Punks Comic, and gmoney.
The NFT holders will get both physical and digital perks. On the physical side, holders will gain access to physical merchandise in 2022—the “iconic adicolor Firebird tracksuit,” a “graphic hoodie,” and “gmoney’s classic orange beanie.” On the digital side, holders will be able to attend virtual events in the Metaverse throughout 2022 “and beyond.”
The early access sale for the NFTs began on the same day as the public sale, albeit a few hours earlier, with 20,000 tokens reserved for those who qualified for early access and a minimum of 9,620 tokens reserved for the general public (380 of the NFTs were retained by adidas and its partners).
The NFT sale today was somewhat marred by technical difficulties. Minting by early access holders had to be paused for approximately two hours due to failed transactions. Adidas has already made it clear that those who lost ETH via gas fees in failed transactions will be reimbursed.
At press time, the collection’s floor price on OpenSea was 0.6 ETH.
Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.
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