Adidas launches Chapter 1 of the ALTS collection as it expands into web3
Adidas, a sportswear maker, has released its ALTS by Adidas collection to evolve its Into The Metaverse non-fungible token (NFT) ecosystem.
ALTS by Adidas dynamic collection
The new ALTS by Adidas collection presents a dynamic NFT with eight “ALT [er] egos,” different rarity traits, and interactive storylines. Holders receive new NFTs from the collection by burning their NFTs from the first two phases of the Into The Metaverse collection.
Adidas’ Into The Metaverse collection went live in December 2021. The collection gave the holders exclusive collaborative merchandise and virtual land experiences access. It also allowed holders burning their NFTs to access a new ERC-1155 token from the project’s next phase and access physical clothing items.
The ALTS collection has various utilities for holders, like a stake in the ALTS by Adidas ecosystem, access to exclusive virtual wearables, and commercial, intellectual property (IP) rights to their character. They also receive access to token-gated Discord channels and entry to holder-only community gatherings. In addition, holders will receive tailored benefits that align with their interests for your ALT (er) ego.
Adidas has been advancing in web3
Adidas is quite active in web3 through a virtual styling tool for existing profile picture (PFP) NFTs and digital apparel collections. The company partnered with Prada, an Italian luxury house, on a Polygon-based NFT collection. Recently, during the Metaverse Fashion Week, the brand showcased new styles in Decentraland.
The brand has also launched several NFT collections like the Raws x Adidas art collection, the sports-themed Blue Pass, and a council badge for the 15 elected members advising the company on web3.
Meanwhile, the Into The Metaverse collection has a floor price of 0.75 ETH ($1,440). Since the launch, it has also had 48,783 ETH (about $93.7 million) in trading volume. On the other hand, the ALTS collection has a floor price of 0.79 ETH ($1,515) with a trading volume of 390 ETH ($749,000).
