Adidas Amplifies NFT Endeavors with Expanded ALTs Rewards System
Adidas is expanding its footprint in the NFT space, offering more utility to holders of its "Into the Metaverse" collection and introducing a new collection, "ALTs by Adidas."
Adidas, a global leader in the sports industry, is making significant strides in the non-fungible token (NFT) landscape. The company, which first ventured into the NFT industry in April this year, is now providing holders of its pioneering NFT collection with opportunities to enhance their digital assets.
Adidas is renowned for its innovative approach, and its foray into the NFT industry is no exception. The company recently announced that holders of its inaugural NFT collection, "Into the Metaverse," will gain additional utility for their assets.
The holders are presented with an exciting opportunity to transform their digital assets into a new collection known as "ALTs by Adidas." The ALTs NFT collection primarily comprises digital avatars, which Adidas describes as integral to the ecosystem they've established with their initial collection.
The Thoughtful Concept Behind ALTs
Vlad Lazarov, the Global Head of Product for Web3 at Adidas, emphasized the thoughtful concept behind the ALTs collection. According to Lazarov, the creation of the collection is not merely a visual venture but part of a broader narrative where each ALT features unique traits.
These traits are not just aesthetic; they offer customized benefits tailored to the individual interests of the holders. The ownership of an NFT extends beyond mere possession, unlocking significant utility.
ALT NFT holders will enjoy several privileges within the Adidas ecosystem. These include increased influence, privacy, access to commercial IP rights, and exclusive ALT artwork and 3D files.
Additionally, ALT NFT owners will have the luxury of personalizing their ALTs using virtual wearables and will gain premium access to the Adidas Collect website. These are just a few of the benefits available to ALT NFT holders.
Adidas' Continued Expansion in the NFT Space
Adidas is not stopping at ALTs. In May 2023, the sports brand added another layer to its digital narrative. The 10,550 unique ALT owners found "Rift Valley Motel Coins" in their digital wallets, tokens issued as rewards for the second season of the brand.
From July 4, these tokens can be used to personalize the ALT avatars through a variety of traits. Adidas will also issue nine facial traits each day on its official Twitter handle until the launch of the vending machine on July 4. A host of additional benefits are slated for release towards the end of 2023.