German-based Adidas has announced plan for an NFT (non fungible token) collection launch on Friday (December 17, 2021). Called “Into the Metaverse,” the collection will convey buyers with exclusive access to an array of upcoming merch drops.
The launch announcement follows news Adidas announced had entered the world of NFTs in partnership with Bored Ape Yacht Club, PUNKS Comic and GMoney, who is a top NFT collector viewed as a thought leader in the space.
In a press release, Adidas senior director of digital growth Tareq Nazlawy stated, “This has been a massive learning journey for us at Adidas, working with the communities that surround G Money, Pixel Vault and the Bored Apes Yacht Club. These communities aren’t collecting hyped up tokens, they have a stake in the future of that community, and I think we can learn something about that. When we think about the role that we can play as a brand to be that trusted friend of our members looking to join this space. In essence, how can we help our current members, get educated, informed and show them the way?”
Priced at 0.2 ETH (approximately $800), the NFTs will launch on adidas.com/into_the_metaverse no earlier than 1:00 PM PST on December 17th. There are a total of 30,000 NFTs in the collection, 20,000 of which are reserved for early access. A minimum of 9,620 NFTs are reserved for general sale, which will remain open until all NFTs are sold. Adidas and its partners will retain 380 NFTs with a portion allocated towards future events.
For the debut drop, NFT holders will be provided access to a capsule featuring a Firebird track jacket, trackpants, graphic hoodie and an orange beanie. The hoodie takes inspiration from one worn by Indigo Herz and Courtney, characters featured in Adidas-owned NFTs created in collaboration with Bored Ape Yacht Club and PUNKS Comic, while the beanie was designed to resemble one worn by GMoney’s CryptoPunks avatar.
Throughout 2022 there will be product redemption windows to purchase the product. During these time periods, NFT owners can visit Adidas’ website, connect their crypto wallet to verify they still own the NFT and place an order for the physical product.