Adidas Unveils New Strategies in the NFT Industry

Adidas continues to explore and exist in the NFT industry by publishing the third and final phase of the project they call ‘Into The Metaverse’. Adidas has announced the final phase of its Into The Metaverse initiative, which includes the introduction of ‘ALTS’ NFTs on the Ethereum network. Adidas will release the first episode, also known as phase 3, on April 11. In addition, it plans to offer advanced benefits and additional features in the coming months.

Adidas’ final phase in the Into The Metaverse project allows users to burn their tokens in phases 1 and 2 of the ITM and initiate the use of new ALTS NFTs. These tokens have dynamic user identities that will change over time thanks to an interactive drawing.

Indigo Herz, the official account based on the Bored Ape Yacht Club (BATC) collection, has confirmed the launch date. He explained that the first moment to affect dynamic NFTs will occur on April 15. Adidas preferred New York for its physical launch events. Adidas announced that they will make all Web3 launches via collect.adidas.com. This platform will also allow users to access the third and final phase of the Into The Metaverse NFT project.

Although there is no entrance fee, it is necessary to have NFTs in the 1st and 2nd stages in the first place in order to participate in the last stage. Users have the opportunity to burn multiple tokens in a single transaction. As a matter of fact, users can now burn or generate tokens without any limitations. However, it is stated that if the token is not burned in the 1st and 2nd phases of the ITM, its nominal values will decrease. According to OpenSea, the total volume of the ALTS collection is 155 ETH, with a total value of over $288 thousand. As a matter of fact, currently, 7,111 people are seen to have invested in the collection with the lowest price of 0.41 ETH. According to NFT Stats data, 108 Adidas Originals ITM NFT sales were made last week. The total value of these sales was $76,900. The average price of the collection for this period reached $ 712.30.