Adidas, one of the world's leading sneaker and lifestyle brands, has made a major move into the world of non-fungible tokens (NFTs) with their latest ALTS by Adidas collection. The new digital ecosystem is part of their wider Into The Metaverse project that was first introduced in December 2021 and promises holders various exclusive privileges. Firstly, holders of NFTs from the Into The Metaverse collection can now burn their tokens to receive a new NFT from the Ethereum-based ALTS by Adidas series. This new NFT will allow them access to stakes in the ALTS by Adidas ecosystem, commercial IP rights, exclusive virtual wearables, entry to exclusive community gatherings and token-gated Discord channels, among other rewards. Since its inception, the project has seen a total trading volume of 48,771 ETH (about $93.4 million) on its original 0.57 ETH (approx. $1,000) floor price.

The new ALTS by Adidas collection has set a floor price of 0.59 ETH (approx. $1,100) with a trading volume of 320 ETH (approx. $613,000). It features 8 distinct "ALT[er] egos" which each have their own rarity traits and interactive storylines. Alongside this unique ecosystem, Adidas has also released several other digital collections such as the sports-themed Blue Pass, an art collection titled Raws x Adidas and a council badge for 15 members chosen to advise the company on its Web3 developments.

Further bolstering their presence in the digital world, Adidas has also launched a virtual styling tool for existing Profile Picture (PFP) NFTs and showed off new designs during the Decentraland Metaverse Fashion Week. This commitment to the NFT space was highlighted by the statistic that, according to the Dune Analytics dashboard, Adidas is currently one of the top brands amongst other major assets in the field.

From their first foray into the world of NFTs with Into The Metaverse to their latest ALTS by Adidas collection, it is clear that Adidas is taking the Web 3 journey seriously. With the prospect of multiple rewards awaiting holders of the NFTs and various upcoming collections set to be showcased, the global sneaker and lifestyle brand is set to define what it means to take the digital look much further.



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