A leading apparel company that has pushed into NFTs and the metaverse is rewarding holders with physical merchandise. Here’s how NFT holders can get their own apparel.
What Happened: Apparel company Adidas AG (ETR:ADSGN) (OTC: ADDYY) announced details for a physical merchandise drop for holders of the Adidas Into The Metaverse NFT.
“Hey Into the Metaverse NFT holders, it’s time to move into phase 2, claim your exclusive physical ITM merch,” Adidas tweeted with a link to the official claim website.
Holders of Into the Metaverse will “burn” their Phase 1 NFT in the claim and will pay a gas fee in Ethereum (CRYPTO: ETH) to complete the transaction.
If they complete the transaction, merchandise holders will receive a Gmoney Beanie, Hash Hoodie and an Indigo Herz Tracksuit.
Those who complete the burn and claim will advance to Phase 2 of Into the Metaverse.
Holders have until May 11 to complete their claim.
Related Link: How To Buy NFTs
Why It’s Important: Adidas announced the launch of Into the Metaverse back in December. The NFT was launched in partnership with some top NFT brands including Bored Ape Yacht Club, PUNKS Comics and Gmoney.
Owners of the NFTs from the partnered brands were able to mint Into the Metaverse during a pre-mint phase. A total of 30,000 Into the Metaverse NFTs were launched at a price point of 0.2 ETH, or around $790 at the time.
Adidas previously said that holders of the Into the Metaverse NFT would receive access to virtual land and early access to Adidas merchandise.
“Exclusive Adidas Originals, gmoney, Bored Ape Yacht Club and PUNKS Comic physical merchandise, available to claim in 2022 at no additional cost,” Adidas said on its website.
Adidas also owns land in The Sandbox, a virtual land platform that is considered a top play on growth of the metaverse and has its own token called The Sandbox (CRYPTO: SAND).
The launch of physical merchandise to NFT holders by Adidas follows the acquisition of RTFKT by rival Nike Inc (NYSE: NYSE:NKE). RTFKT is a digital sneaker brand that could help boost Nike’s metaverse and NFT position in the sector.
Price Action: Into the Metaverse Phase 1 NFTs have a floor price of 1.5 ETH, or $4,272 at the time of writing.
Phase 2 Into the Metaverse NFTs have a floor price of 1.45 ETH.
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