NFT Industry News

Adidas unveiled its NFT to buy physical products

In a tweet, Adidas Originals announced

We chose this “mintpass-style” approach so that secondary market buyers understand if ITM NFTs have already been redeemed for physical products, and what they remain eligible for. Updated FAQ and physical product redemption window dates are coming soon.

Starting March 2022, NFT holders can redeem physical items at no additional cost.  So gear up for the iconic adicolor Firebird tracksuit (as seen on Indigo Herz and Courtney), a graphic hoodie (as featured in PUNKS #2) and gmoney’s classic orange beanie.

If you hold an ITM NFT, the website will enable you to connect your wallet and order one physical product per NFT held by that wallet. This will burn the ERC-1155 NFT in your wallet and place an order for the physical item. You will also receive a Phase 2 Into the Metaverse ERC-1155 token.

NFT buyers will get access to “digital and physical” Adidas products and experiences. At first, the physical goods will include the tracksuit worn by Indigo, a hoodie with a blockchain address on it, and an orange beanie. The merch is cobranded with a trio of collaborators: Bored Ape Yacht Club, the highly sought-after NFT collection; Punks Comics, which recently featured Indigo on an issue’s cover; and GMoney, a pseudonymous crypto enthusiast who’s been consulting with Adidas on how to enter the NFT space in a way that feels authentic. The beanie is supposed to be the one worn by GMoney’s CryptoPunks avatar.

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