The "Into the Metaverse" project came to a hiatus after the release of their new digital asset. In collaboration with Adidas Originals, Bored Ape Yacht Club, PUNKS Comic, and money, they’ve managed to bring in over $43M in less than 72 hours.
During the initial release, the Metaverse project had 30k digital assets waiting to be minted, which later on were traded in large volumes on the OpenSea NFT marketplace. The total amount of crypto that was brought in amounted to just over 11k ETH (over $44M at the time of writing this article).
Since its release, the first batch of Adidas Originals NFTs was completely sold out in a matter of minutes, even with some technical issues that halted the minting of the Mutant Ape Yacht Club collection.
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How to Store NFTs in 2023 (3 Most Secure Ways Explained)
If you've missed it, well, you’re not the only one. Just about a month ago, Adidas Originals tweeted announcing their partnership with Coinbase, jokingly stating that it’s "Probably nothing." So, obviously, it was only a matter of time before they'd actually come out with their NFT.
While their digital token is very tradeable - it’s not only for trading. It lets you unlock various skins on a blockchain-based game called "the Sandbox". Likewise, later in 2022, owners of Adidas Originals NFTs will get access to physical products such as exclusive Adidas hoodies and tracksuits.
Currently, the 30,000 Metaverse digital assets are kept by almost 20k users on the OpenSea platform, with some listed for an average price of 0.754 ETH (~$3k).