Adidas Originals, gmoney, Bored Ape Yacht Club, and PUNKS Comic collectively generate $43 million over 72 hours through an NFT venture.
The first NFT from Adidas Originals’ Into the Metaverse project generated 11,391 Ether, worth almost $43 million, on OpeanSea in its first weekend. Following Takashi Murakami’s collection and RTFKT’s Clone X, this collection is ranked second on OpeanSea based on trading volume.
Adidas Originals created a digital asset with Bored Ape Yacht Club, PUNKS Comic, and gmoney, and on December 17 placed 30,000 of the same item up for sale. The Phase 1 NFT has already generated sales of about 20,000 copies.
The company claims that $15.5 million was made during the Early Access mint, which had to be stopped and restarted after several hours because Mutant Ape Yacht Club was unable to mint owing to technical difficulties.
This NFT is not a collectable; rather, it is an access token that entitles the holder to exclusive use of virtual wearables in the Sandbox gaming metaverse and the right to exchange them for matching physical goods in 2022.
The graphic novel PUNKS Comic Issue 2: X Marks the Drop, which features all the characters in the collection, was also available in print for NFT owners. On PUNKS Comic’s OpenSea profile, the comic can also be ordered separately. A portion of the money from the OpenSea sale is said to have been returned to the PUNKS community fund by the developer team for PUNKS Comic, Pixel Vault.
With the success of its exclusive NFT drop, Adidas has firmly established its sneakers in the metaverse after tweeting about a collaboration with Coinbase and displaying its Sandbox land parcel. Rival Nike has also increased its online presence by collaborating with the top-trending OpenSea collection at the time of publication, the virtual footwear, and collectables business RTFKT.