Adidas makes $23 million on first NFTs: 'This is just the beginning'

Adidas' first-ever NFT drop makes tens of millions of dollars--how soon until other brands jump in?

Adidas recently held its Into the Metaverse NFT drop in conjunction with other popular digital players like NFT art mogul group Bored Ape Yacht Club, crypto pioneer gmoney, and PunksComic. The collection featured NFTs based on each; Indigo Herz from Bored Ape Yacht Club, a gmoney NFT, and Punk 2146 "Courtney" from Punks Comic.

Adidas sold all of its NFTs nearly immediately across its early access and full access periods. The NFTs sold for 0.2 ETH apiece (roughly $787), and in total Adidas made 5,924 ETH from the sales, or $23,252,647.84 in converted currency.

The Originals NFT line also included physical items however a pair of actual Adidas shoes wasn't included:

What do I get if I buy the adidas Originals NFT?

The adidas Originals "Into the Metaverse" NFT was created in collaboration with gmoney, PUNKS Comic and the Bored Ape Yacht Club, and guarantees holders access to four exclusive physical products, at no additional cost, throughout 2022 - on top of the inherent value in the NFT and ongoing exclusive access for NFT holders:

• adicolor Firebird tracksuit (pants and top)
• Graphic hoodie
• Orange gmoney beanie

There will be more NFTs. "This is just the beginning," Adidas' website reads.