- Adidas has released a new NFT collection for those holding its ‘Into The Metaverse’ collectibles
- The sneaker manufacturer dubbed the new NFTs ALTS by Adidas accessible by burning collectibles in the earlier collection
- The new collection features dynamic NFTs with varying rarity
Leading sneaker manufacturer Adidas has released a new NFT collection dubbed ALTS by Adidas and available exclusively to holders of the brand’s ‘Into The Metaverse’ collection. The new collection features dynamic NFTs with varying rarity levels and is accessible by burning collectibles in the earlier collection. ALTS by Adidas marks another step into the blockchain journey which the brand started four years ago when it teamed up with VeChain to secure its sneakers supply chain.
ALTS Open for Commercial Use
Adidas launched Into The Metaverse NFTs in 2021 and promised collectors superior experiences both physically and virtually. Some of the experiences included burning NFTs in the collection in exchange for physical clothes.
🫀 The ALT[er] Egos: Utility 🫀
There are 8 different ALT[er] Ego traits linked to a sports or lifestyle genre.
— Indigo Herz (@indigo_herz) April 12, 2023
The new collection will see collectors enter into what Adidas calls Chapter 1: ALT [ER] EGO which revolves around dynamic artworks grouped into eight rarity levels. The levels, Strikes, Sprints, Hoops, Thrills, Amps, Soles, Decos, and Drips, have a rarity of between 17.5% and 3% with Strikes being the most unique and Drips being the least rare. Adidas also has plans to release the second and third iterations (chapters 2 and 3) of the same in the future.
According to Adidas, ALTS NFTs give collectors a right to use their holding for commercial purposes and access exclusive Discord channels among other benefits, with the extra benefits determined by an NFTs rarity rank.
Adidas Isn’t Alone
ALTS by Adidas is already gaining popularity among collectors and has already registered a trading volume of 367 ETH or roughly $700,000 with a floor price of 0.71 ETH or $1,362. Adidas isn’t the only sneaker manufacturer exploring the Web 3.0 space since its competitor Nike also has a Web 3.0 platform that combines the virtual and the physical world.
With Adidas making positive strides in the blockchain world, other brands like Nike, Reebok, and Puma are likely to hasten their involvement in the Web 3.0 space.