Adidas announced partnerships with cryptocurrency investor Gmoney, the Bored Ape Yacht Club NFT project, and Punks Comic more than two weeks ago. It was three days ago when Adidas was ready to launch its first NFT collection “Into The Metaverse,” and it did so on Friday.
Between the $15.5 million “Early Access” phase and the $7.5 million general sale, Adidas’ NFT collection generated more than $23 million in Ethereum. Although Adidas paused early transactions due to a glitch, the drop minted nearly 30,000 NFTs in total.
The limited edition collaborative NFT has already sold out, as stated on the dedicated page.
Though it may not be one of the biggest selling drops among NFT drops, it is surely an excellent result in terms of profit that will probably encourage Adidas to continue to release new and frequent NFT products in the future.
Nike acquired RTFKT in order to deepen its involvement with NFTs, and Adidas risks falling behind and losing sales opportunity if it doesn’t counter one of its most obvious rivals.