Adidas generates $23M NFT in its first quarter sales

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Adidas opened its First NFT drop for minting. And it gained $23 million in its first quarter. It’s not enough sales record for such a big brand, but it’s just the beginning.

Sales Generated By First NFT Drop:

 The German multinational company Adidas’s first NFT drop made 5,924 ether or $23 million. This is the outcome report of their collaboration with Bored Apes Yacht Club, the NFT collector Money, and the crypto media group PUNKS Comic.

Adidas Early Acess Minting Details:

The minting of the Adidas started on Dec. 17, in which holders of an Adidas proof of attendance protocol, that given to attendees of virtual and physical events. Also, its collaborative partners got the entry.

The early access minting stage allowed to mint around 20,000 NFTs. For 0.2 Ether approx $15 million. And the first minting was completed after 5m ET.

Additionally, in a general sale that starts at 6 pm, they allow the minting of reserved 9,620  “Into The Metaverse”  NFTs for those unable to mint these digital assets. Consequently, it added $7.5 million altogether in minting earnings. Adidas and its collab partners have 380 NFTs for future proceedings.

According to some reports, Adidas paused its minting process after its launch due to some errors with the Bored Apes Yacht club. However, Adidas declared that they would give one chance to the users with failed transactions once they started the sale again. Also, they will compensate for their loss in gas fees.

Advantages Of Into The Metaverse NFT:

Adidas First NFT owners would enjoy the perks. Such as exclusive access to virtual land experience. Exclusive physical products without any cost till 2022. They are offering an iconic firebird tracksuit, a graphic hoodie, and Gmoney’s classic orange beanie.

“This is just the beginning”.

There will be more NFTs on the list, dubbed by Adidas’s official Site.

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