Adidas Expands Its Metaverse With Chapter 1 Of ALTS Collection Holders will now be able to burn their existing Into The Metaverse NFTs to receive new ones from the ALTS collection. This collection marks the third and final phase of Into The Metaverse.
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The global shoe and apparel giant Adidas announced the expansion of the non-fungible token ecosystem with the release of ALTS by Adidas Collection. The collection follows the German shoemaker's Into The Metaverse, a December 2021 collection of 30,000 digital collectibles done in association with PUNKS Comic and Bored Ape Yacht Club.
The ALT collection will have your characters or avatar partake in an interactive storyline where eight ALT(er) ego traits related to sports or lifestyle namely Strikes, Sprints, Hoops, Thrills, Amps, Soles, Decos, and Drips occupy rooms at the Rift Valley Motel, where once you enter, "you will leave a whole new person."
Shared on Twitter by @indigo_herz, the official studio account of Adidas, and later reposted by Adidas, the post called the expansion "Chapter 1: ALT[er] Ego starts now."
Chapter 1: ALT[er] Ego starts now ?
— Indigo Herz (@indigo_herz) April 11, 2023
?This is your first step on your journey towards your own 'ALTS by adidas' identity.
? At the end of Chapter 3 you will get a unique PFP consisting of countless trait combinations with a rarity rank.
? ALTS by adidas is a dynamic NFT… pic.twitter.com/0D9lrvIy6y
Owning an NFT of the collection will be the first step towards your 'ALTS by Adidas identity, where the final chapter will give you a unique PFP having countless traits and a rarity rank. Holders will now be able to burn their existing Into The Metaverse NFTs to receive new ones from the ALTS collection. Users will have to just bear the processing fee of the transaction, popularly referred to as the 'gas fee'.
This collection marks the third and final phase of Into The Metaverse. "Embarking on a new era in the Adidas web3 journey, we are reaching the third and final phase of Into The Metaverse with ALTS by Adidas: your identity and PFP — an interactive storyline which will culminate with the reveal. Chapter 1 of this new adventure begins in April 2023 with further utility and enhanced holder benefits rolled out over the following months," reads the ALTS by Adidas collection on OpenSea.
At the time of writing this, the collection consisted of 16,031 digital collectibles, with a floor price of 0.788 ETH and a trading volume of 390 ETH. The ownership number is 9,030, with 56 per cent being unique owners.
