ALTS of Adidas Kickstart Phrase 3 from NFT and Metaverse Project
Adidas has unveiled the third and final phase of its Into The Metaverse project, introducing its ‘ALTS’ NFTs. At this point, many companies that started offering NFTs during the height of the crypto market in 2021 have turned their backs on the sector.
In April 2023, the sports brand debuted Chapter 1 of this launch, with additional functionality and enhanced holder benefits to be rolled out over the following months.
Evolution of ALTS by Adidas
Users can officially start phase 3 and burn phase 1 and 2 tokens of Into The Metaverse (ITM). According to the description, ALTS has a dynamic user identification (PFP) that will change over time due to an interactive plot.
ALTS is an ERC-721 token, a standard that was introduced for non-fungible tokens (NFT).
The official account based on the BAYC character, Indigo Herz, confirmed that chapter 1 was to be published on 11 April. As the story unfolds, “The first moment that will affect your dynamic NFT will start on April 15.” Adidas has fixed New York for the physical launches.
All web3 launches from Adidas are now on collect.adidas.com, according to the company. Users will also mark sentence 3 here. Although there are no entry fees for the last sentence, it is necessary to have NFTs for sentence 1 or 2. In addition, users will have to pay the gas fees in the process on the Ethereum network.
In a single transaction, users can burn many tokens. Currently, users can burn and mint tokens indefinitely. However, no future benefit will be provided for ITM phase 1 and phase 2 tokens if they are not burned.
According to OpenSea, the total volume of the ALTS collection is 155 ETH, estimated at market time at over $288,000. At press time, 7,111 people owned part of the collection, with a floor price of 0.41 ETH.
Meanwhile, the last seven days saw 108 sales of Adidas Originals ITM NFT, according to NFT Stats. The collection’s total sales came to $76,900. Furthermore, the average price of the collection averaged $712.30.
NFT competition remains stable
Athletic apparel competitor Nike also introduced a new Web3 platform last year. Nike unveiled the ‘.Swoosh’ at Polygon to launch its NFT products. Last year, the iconic American brand was the world’s top-grossing brand from the sale of non-fungible tokens (NFT).
In February, sportswear company Puma renewed its web3 roadmap for its 75th anniversary. With this, it introduced the debut of the Super PUMA PFP NFTs.
Adidas has joined several retailers promoting its web3 ambitions. Meanwhile, Ethereum has been the top blockchain for sellers of NFTs in terms of volume. It is followed by Solana, BNB and Polygon according to Crypto Slam rankings.
The top blockchain, Ethereum, had a volume of $14.4 million, a gain of 16% in the last 24 hours. By that calculation, the Bored Ape Yacht Club (BAYC) continues to have the largest collection. ALTS is #54 on the Crypto Slam ranking.
Sales of the Adidas collection have increased in the last 24 hours. It saw a 144% increase, reaching $27,647. It also saw 38 transactions for a 137% increase.
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