The future of NTFs has been redefined by Adidas’ first NFT drop that sold from over 0.2 ETH (approx. Ugx 2,839,232) to 5,924 Ethereum( approx. Ugx 83.7b) in just a matter of hours. To bring this to perspective; imagine becoming $23 million dollars richer in just a matter of hours for your creativity or imagination?
With its own entry, the “rebellious optimist” ape Indigo Herz, Adidas joined the Bored Ape Yacht Club, a collection of Bored Ape NFTs on the Ethereum blockchain that would give metaverse users a chance to own a slice of what they made.
Last month, the sportswear business tweeted about their strange POAP token, which didn’t appear to mark any specific event. Nonetheless, because this is crypto, individuals minted them anyhow, anticipating everything to become evident later.
When Adidas announced their early access offer, things became obvious. All 20,000 early access tokens were sold out in less than an afternoon.
“Adidas and partners” kept 380 of the remaining 10,000 tokens for “future events” and released the remaining 9,620 to the general public with a limit of two per buyer. Those were sold out in a fraction of a second.
All 30,000 of Adidas’ “Into the Metaverse” NFTs were minted within a matter of hours of going on sale Friday. The shoe giant’s NFTs gave buyers access to exclusivity; that is to say, the ability to purchase special merch drops and help to shape what kinds of products and experiences the company puts together.
Although the figure may not appear big for such a well-known company, Adidas made a profit of $538.4 million in the most recent quarter, including $23 million from a limited-edition digital release. More sales like this might help Adidas’ bottom line while also giving NFTs the kind of attention that shoes used to get.
As a result of this success, there’s a strong chance more companies and brands will have NFT releases, as well as increased participation in metaverses. This is your opportunity as a company or let alone a creative to earn from your creativity, you never know how much money you could make from uploading your NFTs. If you need to understand NFTs better, we have you covered on our website.