Adidas ventures further into NFTs with the third and final stage of its Into The Metaverse project, which introduces the ‘ALTS’ NFT collection. Despite other companies exiting the digital asset space, the sportswear giant remains committed to this innovative approach.
In April 2023, Adidas began Chapter 1 of its Into The Metaverse project, promising further development and holder benefits in the following months. The final phase includes the ALTS non-fungible tokens, which allow users to burn their Phase 1 and 2 ITM tokens to initiate Phase 3. These ALTS NFTs boast dynamic user identification (PFP) that changes over time, driven by an interactive narrative.
Adidas’ unique approach to NFTs distinguishes itself from its competitors, as it encourages active participation, offering an exciting new layer to the digital collectibles world. By pioneering this distinct form of digital art, Adidas is pushing the boundaries of what NFTs can offer, attracting collectors, enthusiasts, and fans to join them on this thrilling journey into the metaverse.
To participate in the final phase, users must own Phase 1 or 2 NFTs and pay the gas fees on the Ethereum network. They can burn and mint multiple tokens in a single transaction, and there is no limit to the number of tokens they can burn and mint. However, it’s essential to note that ITM Phase 1 and Phase 2 tokens will not hold any future value or utility if they are not burned.