Adidas is the latest brand to jump into the metaverse with the launch of its first NFT (non-fungible token) including both digital and physical products.
Adidas Originals has partnered with gmoney, Bored Ape Yacht Club and the team behind Punks Comic for the upcoming release.
The NFTs are set to go on sale this Friday and will give customers access to virtual wearables for the block-chain based gaming world including The Sandbox and a physical hoodie, tracksuit and gmoney’s iconic orange beanie.
The NFTs will cost 0.2 ETH (a form of cryptocurrency), or approximately €714 euros. Adidas has also secured its own NFT, a Bored Ape Yacht named Indigo Herz.
READ MORE: Karl Largerfeld releases NFT collection with Endless
As part of our ambition to celebrate ideas that are defining a new age of originality, we’ve landed at the forefront of creativity, which is the open Metaverse,” Adidas Originals vice president marketing and communications Erika Wykes-Sneyd said.
“It’s a natural place for Adidas Originals to enter: a wild world where possibilities are truly limitless and where anyone can express and be rewarded for their most original ideas.”
Karl Lagerfeld and fast fashion retailer Boohoo launched their own NFT collections this week, demonstrating the number and range of brands now embracing the metaverse.
The news comes as Adidas recently announced it plans to by back up to $4.54 billion of its shares by 2025. The sportswear giant also plans to return the majority of the cash proceeds from the sale of Reebok.
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