Adidas has announced the third and final phase of its Into The Metaverse project introducing the ‘ALTS’ NFT. At this point, many of the companies that launched his NFT offering during the crypto market heyday of 2021 are turning their backs on the sector.

In April 2023, the sports brand will debut Chapter 1 of this launch, and will roll out additional features and improved owner benefits over the coming months.

Evolution of ALTS by Adidas

user can Formally Start phase 3 and burn tokens for phases 1 and 2 of Into The Metaverse (ITM). According to the description, ALTS has dynamic user identification (PFP), which changes over time for interactive plotting.

ALTS is an ERC-721 token, a standard introduced for non-fungible tokens (NFTs).

The official account of BAYC’s character, Indigo Hertz, Confirmed Its first chapter will be released on April 11th. As the story unfolds, “the first moment to impact the dynamic NFT begins on his April 15th.” Adidas pinned New York for the physical launch.

According to the company, all web3 launches from Adidas are now housed at collect.adidas.com. The user also creates phrase 3 here. Admission is free for Final Phrase, but his NFT for Phrase 1 or 2 is required. Additionally, users will have to pay for gas in the process on the Ethereum network.

In a single transaction, users can burn many tokens. For the time being, users will be able to burn and mint tokens indefinitely. However, if the ITM Phase 1 and Phase 2 tokens are not burned, they will not provide future utility.

according to high seas, the total amount of the ALTS collection is 155 ETH, estimated to exceed $288,000 at market time. At the time of writing, 7,111 people own part of the collection, and the lowest price was 0.41 ETH for him.

Meanwhile, 108 Adidas Originals ITM NFTs sold in the last 7 days. NFT statistics. Total sales for the collection came to $76,900. Additionally, the average price of the collection was $712.30.

NFT competition is stable

Athletic apparel competitor Nike also introduced its new Web3 platform last year. Nike unveiled ‘.Swoosh’ at Polygon and launched NFT products. Last year, the iconic American brand was the brand with the highest revenue globally from the sale of non-fungible tokens (NFTs).

In February, sportswear company Puma renewal 75th anniversary web3 roadmap. This marks the debut of the Super PUMA PFP NFT.

Adidas joins several merchants pushing web3 ambitions. Ethereum, on the other hand, is the top blockchain in terms of volume for NFT sellers. Followed by Solana, BNB and Polygon. Ranking by Cryptoslam.

The top blockchain, Ethereum, recorded a 16% increase in volume to $14.4 million in the last 24 hours. By that index, Bored Ape Yacht Club (BAYC) continues to have the largest collection. ALTS ranks him 54th in the Crypto Slam rankings.

Adidas collection sales increased in the last 24 hours. A 144% increase to reach $27,647. Also, he had 38 trades up 137%.