Adidas’ Metaverse NFT Collection has completely sold out in minutes.
The Adidas ORIGINALS: Into the Metaverse NFT line sold out almost instantly today. Adidas and partners have profited more than $23 million from today’s sale with over 30,000 NFTs in the collection, each worth 0.2 ETH. Due to unsuccessful transactions, minting had to be delayed during the auction, albeit the issue was eventually fixed.
Despite technological issues, the Adidas ORIGINALS: Into the Metaverse NFT line sold out shortly following its release today. The collection of the popular fashion brand included 30,000 NFTs for 0.2 ETH apiece. That would put the proceeds from the project’s sale at more than $23 million (6,000 ETH).
The famous sneaker brand collaborated with three major players in the industry: Bored Ape Yacht Club, Punks Comic, and gmoney.
NFT holders will receive both tangible and digital benefits. Holders will have access to actual items in 2022, including the “iconic adicolor Firebird tracksuit,” a “graphic hoodie,” and “gmoney’s classic orange beanie.” Holders will be allowed to attend virtual events in the metaverse throughout 2022 “and beyond” on the digital side.
The NFT early access sale began on the same day as the public sale, although a few hours earlier, with 20,000 tokens allocated for individuals who qualified for early access and at least 9,620 tokens reserved for the general public (380 of the NFTs were retained by adidas and its partners).
Today’s NFT auction was hampered by technical issues. Due to unsuccessful transactions, early access holders’ mining had to be suspended for nearly two hours. Adidas has previously said that anyone who lost ETH due to gas fees in unsuccessful transactions will be compensated.