Cashing in a whopping $23 million, Adidas Originals sold its first NFT collection ‘Into The Metaverse’ just minutes after the launch. Out of the 30,000 NFTs, 380 NFTs were retained and others were sold at a price of 0.2 ETH each. At press time, Ethereum was trading at $3,795.01, down by 3.21% from the previous day.
While the sale was unsurprisingly successful, it did face several technical hiccups resulting in Adidas pausing early transactions. The athleisure brand had reserved 20,000 NFTs for users qualified for early access but faced technical difficulties after Bored Ape Yacht Club owners were unable to mint the NFTs.
The snag resulted in Adidas pausing the sale for more than two hours, causing many to lose their transaction fees in the process. Meanwhile, the company has promised to reimburse those who lost ETH in gas charges.
We're working hard to resume the Early Access mint.
Everyone with failed transactions will be able to mint after the sale resumes.
And for those of you who lost gas fees, we are gathering your details and will reimburse you.
Thanks for bearing with us.
— adidas Originals (@adidasoriginals) December 17, 2021
Early access was given to holders of the Adidas Originals tokens, GMoney tokens, Bored Ape Yacht Club NFTs, Mutant Ape Yacht Club NFTs, and Pixel Vault NFTs. Adidas had partnered with Bored Ape Yacht Club, Punks Comic, and GMoney on the NFT collection, explaining the exclusive access to some token holders.
Holders of the Adidas NFT collection will be rewarded with exclusive access to both digital and physical perks. NFT owners will have access to Adidas’ exclusive merchandise set to release in 2022 and some perks in Adidas virtual land in The Sandbox.
