Sports apparel giant Adidas has plans to unveil its new set of NFT avatars known as ALTS later this year. This would be a massive move into the Web3 space. The release is part of a loyalty program focused on digital collectible avatars.
Adidas did a teaser for the first look at its upcoming ALTS by Adidas avatars, due for release between September and October 2024, on a blog post. With headquarters in Herzogenaurach, Germany, Adidas has been, since 1949, one of the major sports footwear, apparel, and accessory brands known for their innovations. Its key competitors include Puma, Under Armour, and Nike.
Adidas entered the crypto and NFT space one year later, after all the hype had died down, with the purchase of its first Bored Ape, Indigo Herz, for 46 ETH in September 2021. It dropped its ALTS by Adidas NFT avatar collection on the collect.adidas.com platform a year after entering NFTs in what it calls the third phase of its Web3 roadmap. This is a program that offers a personalized, token-gated experience where your membership card is your avatar—or, basically, your "alter ego."
The ALTS by Adidas is a Genesis NFT project that leverages blockchain technology. These works in the collection feature a host of benefits for holders, such as pre-sales of Adidas products, tickets for events, etc., with stakes in the ALTS ecosystem.
According to the new collection, another 20,000 limited edition NFTs will be released in Q4 2024. This new launch aims to position Adidas right at the top as the sports and lifestyle brand within the digital environment.
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