Adidas Originals Launches NFTs After Buying Land in The Sandbox

Adidas Originals, one of the biggest names in the sports industry, has jumped on the metaverse bandwagon and put on sale non-fungible token (NFT) in partnerships with Bored Ape Yacht Club, Gmoney and Punk Comics.

The Adidas Originals collection will be the first collection from the brand and "buyers will receive exclusive access to Adidas Originals experiences and products."

The NFT collection will feature "virtual wearables for blockchain-based gaming world The Sandbox and other platforms, plus physical products to match," VentureBeat reported. These items will be available to the NFT owners sometime in 2022.

The company had earlier said in a tweet that it had bought land in the Sandbox Metaverse.

The sports brand is already on its way to becoming a part of the major NFT collection, titled the Board Ape Yatch Club (BAYC) which is the 4th most traded NFT series. Adidas bought BAYC#8774, the Indigo Herz, and branded it with the company's well-recognized logo.

Adidas launched the POAP (Proof of Attendance Protocol) token in November, promising holders that they could exchange it for a mystery item from its shops. More than 3,300 copies of the token were minted.

"The foundation we are building with Web3 will lead to new creative opportunities for partnerships, engagement through digital goods, and a path towards a more inclusive future,” Scott Zalaznik, the chief digital officer at Adidas, told VentureBeat.

Competitor Nike is also preparing to begin its journey into building a Metaverse and recently bought an NFT company that makes virtual shoes.