On Dec. 17, major sportswear company Adidas presented 30.000 "Into the Metaverse" NFTs. The assets that will allow purchasers to be a member of a fan club, and acquire special merch drops were minted and sold out in hours.
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The cost of one NFT was 0.2 Eth, which is around $754 at current prices. Prices can vary in secondary markets. 380 of the NFTs were held for “Adidas and partners”. The rest of NFTs, 29.620 tokens worth $22 M, were sold out.
To release the NFTs, Adidas has cooperated with the popular NFT collection Bored Ape Yacht Club, series Punks Comics, and NFT investor, promoter GMoney. It also bought a BAYC NFT.
20.000 out of 29.620 NFTs were offered via early access to owners of NFTs by Adidas Originals, GMoney, BAYC, Mutant Ape Yacht Club, and Pixel Vault.There was an issue during the early minting, and MAYC owners weren't able to mint the NFTs, and the process had been paused. The company said later that those who lost gas because of the issue, will be refunded after transaction checking. Adidas added it's the beginning of its NFT journey and the company is learning.
What happens next? Those of you who lost gas during the Early Access pause, you will be refunded as soon as we complete the process of checking all transactions. Those who felt hurt by gas in the public sale, we are learning from it.
— adidas Originals (@adidasoriginals) December 20, 2021
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Buyers of the NFTs can then acquire physical things, for instance, a clothing seen on Indigo Herz, the BAYC that is on Adidas’ Twitter avatar. FAQ on the Adidas website informs that the products will be accessible through 2022.
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There will be product redemption windows, during which NFT owners can place orders for products and acquire them without additional costs by connecting their wallets. Adidas will announce the details about redemption additionally.