Adidas has been pushing the boundaries of the crypto sector by launching the third and final phase of its Into The Metaverse project, introducing the ingenious 'ALTS' NFTs. After the trend of NFTs had reached its peak in 2021, many other companies have pulled away from this sector. In April 2023, Adidas launched the pioneering first Chapter of its project with highly beneficial holder benefits that were to be implemented during the following months.
ALTS consist of ERC-721 tokens, which is the non-fungible token standard. On April 11, this type of token was officially released and the first moment, that would affect the dynamic NFTs, was announced to take place on the 15th of April. Along with this, Adidas revealed that they were travelling to New York to launch this collection physically. The new launches of the Adidas web3 platform can now be found on collect.adidas.com, and Phase 3 of the NFTs can be minted there.
In order to burn these tokens, there are no entry fees anymore but users still have to pay for the gas fees that come with the process on the Ethereum network. According to OpenSea, the total volume for the ALTS collection amounts to $288,000 and it is owned by 7,111 people so far from all over the world. Looking to the stats from NFT Stats, the total sales of this collection come up to $76,900 after 108 transactions over the last seven days.
Adidas' competitor Nike had also launched its own NFTs last year called '.Swoosh' and had become the highest earning company in the world through the sales of its NFTs in the same year. Puma, the other sportswear company, has recently renovated its web3 roadmap for its 75th anniversary, introducing the Super PUMA PFP NFTs.
Ethereum currently holds the title of the highest ranking blockchain for NFTs with a sales volume of $14.4 million in the past 24 hours, and BAYC is the largest collection. The ALTS collection are placed 54th on the rankings by Crypto Slam. This collection has seen an increase of 144% over the past 24 hours and a jump of 137% transactions with $27,647 as its sales.
John Hughes
- 2023-04-10
Adidas Launching the Final Chapter of its Into The Metaverse
Adidas has pushed the boundaries of the crypto sector by launching the third and final phase of its Into The Metaverse project, introducing the ingenious ‘ALTS’ NFTs. After their remarkable success, Nike and Puma have also entered the NFTs market, making Ethereum the highest ranking blockchain for NFTs.
