Footwear brand Adidas has released the first product of its latest NFT collection, "Adidas' ALT," the latest move by the company as it seeks to expand its NFT ecosystem.
The dynamic NFT will evolve based on the owners' decisions and participation, according to an April 11 announcement, which said the collection is the "first step" to having an "Adidas ALTS" identity.
Base price of each Adidas NFT is 0.666 Ether, the transaction volume to date has reached 351 ETH ($672,000). There are now 8,989 owners, 56% of which are unique.
There are 16,000 items in total, and creators take a 10% cut of every sale. Collectors must purchase and burn Phases 1 and 2 of adidas "Enter the Metaverse" tokens to receive ALTS as an adidas NFT.
