Adidas Unveils Its First NFT Collection: Yields $11 Mln In Revenue

Adidas Originals (adidas Originals), a german sportswear brand, unveils the first blockchain-powered virtual wearables. Top sports brand Adidas dubbed its first collection of NFT wearables as “Virtual Gear.” The launch of the NFT collection accelerates Adidas Originals’ drive to improve its community-based, member-first, open metaverse strategy.

The 16-piece collection is available in the wallets of holders of its capsule collection, which debuted in May and was airdropped to Into The Metaverse (ITM) NFT holders who seized Phase 2. The 16-piece collection represents a creative and cultural breakthrough in the brand’s history, connecting past and future, virtual and physical, communities and creators, culture and identity.

Adidas VP comments on the launch of NFT wearable

While speaking on the launch of NFT wearable the VP of Adidas Erika Wykes-Sneyd said: “I love the opportunity this collection represents for our most engaged community of holders. Every capsule holder has a choice at launch – burn and express their virtual identity with adidas’ first Virtual Gear collection, or list and allow others to join this community. With our community and creator ecosystem at the core, adidas will explore every viable utility, platform, and experience within Web3 to unlock new possibilities for our wearables, with a focus on tangible value and immutable utility for our community members.

As per the report, Adidas Originals holders who have possession of the Capsule NFT Collection can unveil and replace their Capsule NFT to see which of the 16 unique pieces they have been assigned. This implies users must ‘burn’ their current Capsule NFT to generate one of the 16 new digital wearable NFTs at random.

Nic Galway, Senior VP of Creative Direction for Adidas Originals also commented on the collection he said that Adidas is always one of those brands which is known for exploring the edge of creativity and pushing the boundaries to find what’s beyond.

He added, But Web3 offers our designers and collaborators a new outlet to imagine, and reimagine, how our brand can be represented in augmented and virtual worlds.”

Those who do not already own an adidas Originals: Capsule NFT will be able to acquire the new Virtual Gear collection directly through the various NFT marketplaces starting November 16th. As an added bonus, community members who own a virtual wearable NFT and a suitable partner collection NFT (BAYC, MAYC, Inhabitants) will be able to ‘dress up’ their NFT with their adidas virtual wearable using a PFP Tool that will be released soon.

For users who don’t have adidas original

Capsule NFT will be able to acquire the new Virtual Gear collection directly through the various NFT marketplaces starting November 16th. As an added bonus, community members who own a virtual wearable NFT and a suitable partner collection NFT (BAYC, MAYC, Inhabitants) will be able to ‘dress up’ their NFT with their adidas virtual wearable using a PFP Tool that will be released soon.

Notably, the competitor brand  Nike has been one of the largest fashion-world players in Web3..Recently Nike introduced a new web3 platform Swoosh to increase its appearance in the non-fungible token(NFT) space.

Author: Nishant Shukla

Article: https://coingape.com/adidas-unveils-its-first-nft-collection-yields-11-mln-in-revenue/

 

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