Adidas Expands NFT Ecosystem with ALTS Collection

Adidas, the global sneaker and lifestyle brand, has expanded its Into The Metaverse non-fungible token (NFT) ecosystem with the release of the ALTS by Adidas collection. The company first launched the Into The Metaverse collection in December 2021, offering NFT holders exclusive access to collaborative merchandise and virtual land experiences throughout 2022. The first Web3 exploration of the collection allowed NFT holders to burn their tokens and receive a new ERC-1155 token from the next phase of the project while claiming physical clothing items.

Holders of NFTs from the first two phases of the Into The Metaverse collection can now burn their tokens to receive a new NFT from the Ethereum-based ALTS by Adidas collection, paying only for gas fees. The new stage of Adidas’ Web3 journey involves a dynamic NFT with eight different “ALT[er] egos” that correspond to different rarity traits and interactive storylines. The new collection will provide various utilities for holders, including a stake in the ALTS by Adidas ecosystem, commercial intellectual property (IP) rights to their character, access to exclusive virtual wearables, entry to holder-only community gatherings, and token-gated Discord channels, among other benefits.

Adidas has continued to bring its sporty style to Web3, offering digital apparel collections and a virtual styling tool for existing profile picture (PFP) NFTs. The company has also released several NFT collections, including the sports-themed Blue Pass, an art collection titled Raws x Adidas, and a council badge for the 15 members elected to advise the company on its Web3 expansion.