adidas Originals enters the metaverse with debut NFT collection
adidas Originals has landed in the world of Web3 with what it calls “one of the most widely distributed NFT drops in history”.
Over the weekend, the company pulled in over $22 million after its NFT pieces were minted within minutes of going live on sale.
Each of these were priced at ETH 0.2, which converts to $769. Out of the 30,000 NFTs that were made available, 29,620 have been sold while Adidas Originals’ partners kept 380 pieces for future events.
There were, however, some technical snags. Shortly after the early access minting began and the first 20,000 NFTs went live, Mutant Ape Yacht Club owners complained of not being able to mint the pieces.
“Our intention has always been to learn from - and build with - the builders and communities in the space, including @BoredApeYC,, @punkscomic, @gmoneyNFT and @pixelvault_,” adidas Originals tweeted yesterday.
“Our collective goal was to achieve the most inclusive distribution, and to leave no MAYC behind.”
It added: “To achieve our shared goal, we limited tokens/transaction and transactions/wallet.”
“To evade bots, we announced the time as near to the drop as possible. To warn about the risks of evolving Web3, we worked with our partners to create educational material, FAQ and a Discord.”
“Even with all the measures we took, it wasn’t perfect. But, for the first time, thousands of new adopters experienced the thrills and risks of Web3. We’ll never stop learning.”
We’ve only just begun…
adidas Originals says that it has further NFT related plans for 2022.
“Those who think we’re going to pocket the money and run, that’s not Web3. Have faith. Those who felt the timezone wasn’t in your favour, our journey here is just beginning,” it tweeted.
