AdidasAdidas 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 shoe 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 collect.Adidas.com platform that was recently rebranded. ALTS is essentially a token-gated, hyper-personalized Web3 loyalty program in which your membership card is you, or rather your ALTer personality, also known as your avatar.
According to reports, the concentration of the NFTs is on identity, community participation, utility, and, of course, the product itself.
In the near future, said avatars or ALTS will acquire one of eight characteristics with varying rarities. 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 at 3% of the supply each. Consider the equivalent in ALTS to Amex Black.
Each trait has its unique utility, granting exclusive or early access to physical and virtual products and event tickets. The presumption is that said benefits are tailored to the holder’s interests.
All ALTS will include additional features such as private use and specific commercial IP rights, personalization options via virtual peripherals, access to holder-only gatherings (in both the real and virtual worlds), exclusive point-based rewards, and co-creation opportunities. Additionally, holders will be able to use their ALT as their Twitter and Discord profile images.
What are the operational metrics?
An NFT’s quality is only as good as its applications. So, what is the utility centered on ALTS NFTs? It includes exclusive access to physical/virtual merchandise as well as event tickets. ALTS provides private use, virtual wearables, holder-only events, rewards, and opportunities for co-creation. In addition, it can be utilized as a PFP.
Do you want to have your Alt[er] ego? Here is how to go about it. Random traits will be generated for your Alts on May 1st, 2023. Hold onto your alt, and it’ll be allocated to one of 8 rooms. What if you don’t want to leave it to chance? A purchase door was opened on April 15 at 7 pm CET.
Consumers can grab a key and choose their room. But be quick – only 3500 keys are available! What about the key pricing details? 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. That means even those who didn’t purchase a Universal Key have the chance to be randomly allocated to any of the 8 rooms.
Adidas takes on investments in Web3 and the Metaverse
Adidas published the Into The Metaverse collection for the first time in December 2021, promising NFT holders “exclusive access to collaborative merchandise and virtual land experiences throughout 2022.” Its 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 art collection Raws x Adidas, and a council badge for the 15 members elected to advise the company on its Web3 expansion.
Adidas 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.
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