Adidas Originals NFT sells out in a few hours https://ift.tt/3J2mJ9l

TL;DR Breakdown

• Adidas NFT “Originals” raised over $23 million.
• The German company partnered with Coinbase for its developments in the Metaverse.

The Adidas NFT collection, known as “Originals,” obtained around $23 million after selling its 30 thousand collectibles. The amazing thing is not that it sold all the virtual pieces, considering that the firm is recognized worldwide, but that the collection left the auction in less than a day of publication.

Reports suggest this has been one of the fastest NFT sales the Adidas company has enjoyed in its foray into the non-fungible market. The German firm successfully concluded the project thanks to GMoney, Pucks Comics, and other companies that have experience in the new virtual auction market.

NFT Adidas collection sold out in no time

Sports apparel and accessories company Adidas successfully concluded its first non-fungible auction. The German firm joined the virtual trade through “Originals,” corresponding to its first NFT collection. According to announcements by the brand, the non-fungible collection had 30 thousand unique tokens valued at about 0.2 satoshis of Ethereum or around 700 dollars.

The NFT collection was officially published last Friday, and in just 24 hours, all the pieces were sold. The figures indicate that the German firm raised over $23 million, a huge profit within the non-fungible space.

The advertising agent indicates this development is part of its ambitions to accept the new technologies. The executive believes the non-fungible trade is in high demand, is wild, and has big success odds.

Sports equipment company societies

Adidas’ great achievement was produced a few days after the Sandbox company announced its advertising in footwear within the virtual universe, better known as Metaverse. Sandbox corresponds to the name of a video game in which people can build and obtain various rewards.

The German company has formed a bond with SandBox and shares its work alongside Coinbase, one of the most used crypto platforms in the world. Adidas also received help from large companies that devoted themselves to NFT auctions.

The firm reportedly sold its first NFT collection on December 17 before sunset. The first massive sale was of 20 thousand tokens that gave them over $15 million in profit. The remaining 10,000 pieces were sold in a few minutes, ending the virtual auction.

After this great sale, the company feels astonished by its impact on the NFT auctions. However, the executives did not mention whether they would publish a new non-fungible collection.