Global sports and lifestyle brand Adidas has launched the third and final phase of its Into the Metaverse (ITM) NFT project called “ALTS by Adidas.”
ALTS by Adidas will roll out in chapters, starting with Chapter 1: ALT[er] this April. The sports apparel will drop additional benefits and functionality to NFT holders in the following months.
ALTS by Adidas is a dynamic and evolving NFT collection that will transform based on the holders’ decisions and engagement. This new stage in Adidas’ Web3 journey will introduce eight different ALT[er] egos — each with exclusive traits and interactive storylines that run through the end of Chapter 3.
“This is your first step on your journey towards your own ‘ALTS by Adidas identity,” Adidas said on Twitter.
By the end of Chapter 3, holders will receive a unique profile picture (PFP) with countless trait combinations and a rarity rank, creating a digital fashion statement.
Holders of the ITM collection’s Phase 1 and Phase 2 can now burn and mint their NFTs to get a new Ethereum-based ALTS by Adidas NFT for only the price of gas fees.
They will receive various benefits, such as a stake in the ALTS by the Adidas ecosystem, commercial intellectual property (IP) rights to their character, access to unique virtual wearables and entry to exclusive community events and token-gated Discord channels.
As of this writing, the ITM collection has a floor price of 0.667 ETH (about $1,278) and a total trading volume of 48,781 ETH (about $93.5 million).
Meanwhile, the ALTS by Adidas collection has a floor price of 0.666 ETH (about $1,276) and has generated a trading volume of 351 ETH (about $672,500). These figures were obtained from OpenSea.
Chapter 1: ALT[er] Ego starts now 🎯
🪞This is your first step on your journey towards your own ‘ALTS by adidas’ identity.
🎭 At the end of Chapter 3 you will get a unique PFP consisting of countless trait combinations with a rarity rank.
🫀 ALTS by adidas is a dynamic NFT… pic.twitter.com/0D9lrvIy6y
— Indigo Herz (@indigo_herz) April 11, 2023
Adidas’ journey in Web3
Adidas kicked off the Into the Metaverse project in December 2021, offering NFT holders exclusive “access to collaborative merchandise and virtual land experiences in 2022.” The project’s first release was a partnership with NFT influencer Gmoney, PUNKS Comic and Bored Ape Yacht Club.
Over the past few years, the brand has brought its sporty style to Web3 through numerous digital apparel products and a virtual style tool for PFP NFTs.
Some collections over the years include the sports-themed Blue Pass, Raws x Adidas art collection, and its latest collaboration with Italian luxury house Prada, a polygon-based NFT collection. Adidas also joined Decentraland’s Metaverse Fashion Week in March, showing off the brand’s NFT styles.
Per a report by CoinDesk, with data from Dune Analytics, Adidas has claimed the top spot as the leading brand on the Ethereum blockchain, followed by luxury house Dolce & Gabbana and jewelry company Tiffany & Co. in terms of NFT activity and engagement.
NFT brand competitors
The prospect of NFT brought many athletic apparels and houses alongside Adidas into the world of Web3.
Last year, Nike, a competing sportswear company, launched its NFT platform “.Swoosh” on Polygon to introduce its NFT products. Not long after the release, Nike became the top-earning brand globally in NFT sales.
Last February, sportswear brand Puma unveiled its Super PUMA PFP NFT collection as a part of its Web3 roadmap in celebration of the brand’s 75th anniversary.
Other sports houses in the current NFT marketplace include ASICS, Under Armour, Dapper Labs’ NBA Top Shot, Mizuno and Team GB (the British Olympic Association).