Adidas tops the Web3 charts with the release of the Chapter 1 ALTS Dynamic NFT collection – Cryptopolitan
Adidas has once again made waves in the digital world with the introduction of its Chapter 1 ALTS Dynamic NFT collection, bringing the brand to the top of the rankings in the burgeoning world of Web3. According to reports, global footwear and lifestyle brand Adidas has expanded its Into The Metaverse non-fungible token (NFT) ecosystem with the debut of the ALTS by Adidas collection.
Unboxing ALTS by Adidas – what are they?
ALTS by Adidas is the third phase of Adidas’ Web3 roadmap, implemented on the recently changed collect.Adidas.com platform. ALTS is essentially a token-gated, hyper-personalized Web3 loyalty program where your membership card is you, or rather your ALTer personality, also known as your avatar.
According to reports, the concentration of NFTs is on identity, community participation, utility and, of course, the product itself.
In the near future, said avatars or ALTS will gain one of eight traits of varying rarity. Included are Strikes (soccer), Hoops (basketball), Thrills (gaming), Amps (music and film), Soles (sneakers and skate) and Drips (fashion). The latter two are the most scarce with 3% of the supply each. Consider the equivalent in ALTS to Amex Black.
Each feature has its unique utility, providing exclusive or early access to physical and virtual products and event tickets. The condition is that said benefits are adapted to the owner’s interests.
All ALTS will include additional features such as private use and specific commercial IP rights, personalization options via virtual peripherals, access to limited-time collections (in both real and virtual worlds), exclusive points-based rewards and co-creation opportunities. Additionally, holders will be able to use ALT as their Twitter and Discord profile pictures.
What are the operational metrics?
The quality of an NFT is only as good as its applications. So, what is the tool centered on ALTS NFTs? It includes exclusive access to physical/virtual goods as well as event tickets. ALTS provides private use, virtual wearables, live-only events, rewards and opportunities for co-creation. In addition, it can be used as a PFP.
Do you want your Alt[er] ego? Here’s how to proceed. Random traits will be generated for your Alts on May 1st, 2023. Hold onto everything and it will be assigned one of 8 rooms. What if you don’t want to leave it to chance? A buying door was opened on 15 April at 19.00 CET.
Consumers can take a key and choose their room. But be quick – only 3,500 keys are available! What about the most important price information? Find out more in the image below.
What about fair distribution? 30% of each ALTER Ego’s supply is reserved for random allocation to ensure equal access. This means that even those who have not purchased a Universal Key have the chance to be randomly assigned to one of the 8 rooms.
Adidas takes on investments in Web3 and Metaverse
Adidas first publicized the Into The Metaverse collection in December 2021, promising NFT holders “exclusive access to collaborative merchandise and virtual land experiences throughout 2022.” The first Web3 exploration, a collaboration with NFT influencer gmoney, PUNKS Comic and Bored Ape Yacht Club, allowed holders to burn their NFTs in exchange for a new ERC-1155 token and tangible clothing items in the next phase of the project.
Holders of NFTs from the first two phases of the Into The Metaverse collection can now burn their NFTs in exchange for a new NFT from the Ethereum-based ALTS by Adidas collection, with only gas fees required.
Adidas has brought its athletic style to Web3 through digital apparel collections and a virtual styling tool for existing profile picture (PFP) NFTs. It has also released a number of NFT collections, such as the sports-themed Blue Pass, the Raws x Adidas art collection, and an advisory badge for the 15 members chosen to advise the company on its Web3 expansion.
Adidas has previously collaborated with Italian fashion house Prada on an NFT collection based on Polygon, and most recently debuted new designs in Decentraland during the platform’s Metaverse Fashion Week. According to a Dune Analytics dashboard, Adidas continues to be one of the leading brands in the NFT market.
