Sportswear brand Adidas has just expanded its NFT ecosystem Into The Metaverse with the launch of the ALTS by Adidas collection.
The brand introduced the first phase of its NFT initiative in December 2021. The tokens were issued in collaboration with the Bored Ape Yacht Club, GMoney and PunksComic projects Into The Metaverse.
Participants in the first two phases of Into The Metaverse can now burn their tokens to receive new NFTs from the Ethereum-based Adidas ALTS collection. The collectibles themselves are eight "alter egos" of varying rarity.
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The new collection will offer a variety of opportunities for users, including participation in the ALTS by Adidas ecosystem, character rights and access to exclusive virtual apparel.
Since the launch of the collection, the collection's trading volume has reached 48,771 ETH (about $93.4 million).
As of August 2022, fashion brands Dolce & Gabbana, Tiffany, Gucci, Adidas and Nike collectively generated $260 million in revenue from sales of NFTs.