Addidas nft opensea

Non-fungible tokens, or NFTs, are a lot like sneaker drops: They come in limited quantities, depend on sky-high demand and stir speculative crazes in the resale market. It should come as no surprise, then, that Nike , Adidas and Under Armour have dipped their toes into the market. Can they hit the ground running?

NFTs are digital assets—art, videos, anything that can exist digitally—that are tradable but not “fungible,” meaning they are unique and can’t be exchanged for an identical asset. A dollar or barrel of oil is fungible, a piece of art or a home isn’t. For brands like Nike or Adidas, NFTs could take the form of a collectible digital sneaker or one that an owner might actually wear in the virtual realm—say, in a videogame or in the metaverse.

Adidas nft opensea

After sending the NFTs to the creator’s main address, the child smart contract would self-destruct,” Wong added on the thread.

The contract’s owner paid around $104,000 (27.4 ETH) in gas fees to process the transaction. In addition to around $252,000 (66ETH) for the NFTs.

Adidas dropped their first NFT today.

The sale was capped at a max of 2 items per person and it sold out in less than a second

One person was able to purchase 330 in a single transaction using a custom smart contract

Quick 🧵 on how they did it

— Montana Wong (@Montana_Wong) December 18, 2021

As of press time, the Collection’s floor price has climbed to o.8 ETH versus the minting price of 0.2 ETH.

Addidas nft opensea

Ape Yacht ClubNFT #8774, in September, for 46 ether, or around $156,000.

#NewProfilePicpic.twitter.com/Dve8TbXT9k— adidas Originals (@adidasoriginals) December 2, 2021

This character that they purchased will be turned into a metaverse character and will be named Indigo Herz.

They made a teaser in their social media accounts to show this collaboration with NFT Brands.

Today we leap Into The Metaverse with @BoredApeYC, @gmoneyNFT & @punkscomic.

It’s time to enter a world of limitless possibilities.https://t.co/LmgtrRn20cpic.twitter.com/40kU8tayrS— adidas Originals (@adidasoriginals) December 2, 2021

“Today we leap Into The Metaverse with [Bored Ape Yacht Club], [Gmoney] & [Punks Comic].

The company will provide updates regarding the launch of its NFT via the link mentioned and on the CONFIRMED app. Adidas will start offering its NFT to those who qualify for early access no earlier than 1:00 p.m.
ET.

Adidas will allow participants to purchase a maximum of two NFTs per transaction and each participant will be limited to one transaction. You are required to have a digital wallet in order to purchase an Adidas NFT.

If you’re one of the lucky ones to purchase an Adidas Into the Metaverse NFT, you will also be given access to exclusive physical merchandise produced by Adidas Originals, Gmoney, Bored Ape Yacht Club, and Punks Comics.

Addidas nft opensearch

Adidas tweeted last December 2.

There is also a link added that leads to their Metaverse website which shows a video of the three NFT Brands leading Adidas into the Metaverse.

Upon the announcement of Adidas entering the metaverse, they also changed their profile picture on their Twitter and Instagram accounts. The profile picture shows a signature Bored Ape cartoon wearing yellow Adidas Originals clothing with the classic three-stripe design and also displays trademarks of Pixel Vault’s Punks Comic and Gmoney.

The character in the profile picture also features a blue-skinned ape with a fisherman’s hat, heart-shaped sunglasses, a gold hoop for earrings, and a “bored” look on its face.

A week before entering into a metaverse, Adidas revealed that it acquired space in The Sandbox, a virtual gaming world.

Adidas nft open sea

NFT influencers who have earned a name in the world of non-fungible tokens.

This blog post shall cover the complete know-how of Adidas NFTs.

What Made Adidas Launch Its NFT?

Before we dive deeper, let us look at some fashion industry statistics by Fashion United.

The global fashion industry is already worth about 3,000 billion dollars, which is significant. It accounts for 2% of the entire world’s GDP. It has a global labor force of nearly 3,384.1 million people.

As per a story shared by FDRA, Adidas is the third biggest apparel brand in the United States.

Adidas is also the world’s fourth most valuable clothing & apparel brand based on its brand value at 14,342 million U.S dollars in 2021 and 16,481 in 2020, mentions Statista.

There are several reasons why Adidas entered the market with Into The Metaverse NFT.

Applying the existing metrics, the 330 NFTs have an estimated value of at least 264 ETH or almost $1.05 Million! So since the owner spent $104,000 for the gas fees and $252,000 for the actual NFTs. Then, the potential profit margin is around $600,000!

Meanwhile, the project has pulled in 12,000 ETH or over $43 Million, according to OpenSea’s figures.

Side Effects of the NFT Boom

Birth pains are natural for emerging industries and NFTs are not immune from this.

In the past months, we’ve seen several gray areas, particularly in terms of intellectual property and rights. For example, Miramax sued Filmmaker Quentin Tarrantino over his move to release NFTs of unreleased content from Pulp Fiction.

There’s also the ugly trend of people stealing someone’s art and selling them as NFTs.

Also, on November 24, they made an announcement about their partnership with Coinbase, a cryptocurrency exchange platform.

Aside from the teasers that have been shared with their fans, there are still other official details that are yet to be shared about the entrance of Adidas into Metaverse.

Nike, the main competitor of Adidas, also revealed that they are focused on metaverse. Nike published a post about “Nikeland” on November 18.

It means that it has established itself in the virtual world of Roblox.

As the metaverse takes shape, user-owned NFT assets like profile pictures are designed to become a key building block.

Metaverse is today’s trend.

And for people who feel that the unattainable is nothing at all: you feed us.

seven/ten

– adidas Originals (@adidasoriginals) December 20, 2021

“Those who assume we’re going to get your revenue and run away, it is not Web3. We ought to have faith. Our journey right here has just begun ».

However, when it comes to partnering with Coinbase in the “hidden” action series with The Sandbox (SAND), adidas Originals is most likely to have extra metaverse campaigns up coming yr.

Meanwhile, rival Nike has also expanded its footprint by setting up a virtual metaverse planet on Roblox, obtaining the style startup NFT, and partnering with the sneaker and virtual collectibles brand RTFKT, the OpenSea assortment episodes of the most effective trends in the planet.

Mutant Ape Yacht Club.

This NFT is not a collector’s item, but an access token that gives owners exclusive access to both the virtual wearable in the sandbox game supermarket and the respective physical products.

In the Metaverse, challenging the impossible is a reality. On Friday we hit the Net3 world with one of the most widespread NFT drops in history.

1/10

– adidas Originals (@adidasoriginals) December 20, 2021

Related:The NFT world is gradually closing the gap between niche and mainstream

NFT owners can also get a physical version of PUNKS Comedian Challenge 2: X Marks the Drop, a graphical story about all of the characters in the collection.
The comics are also available separately on PUNKS Comedian’s OpenSea profile.

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