Use Case
Why The Adidas Blockchain Project Should Be On Every Enterprise’s Short List To Watch
One can only imagine the shock and awe in the adidas executive suite after one of its brands – adidas Originals – ran an "Initial NFT Offering" (INO, an acronym that most big brands and enterprises should get to know) under the heading "Into the Metaverse." The INO – launched with the support of Yuga Labs (Bored Ape Yacht Club), non-fungible token (NFT) influencer gmoney, and Punks Comic – generated over $22 million in the span of an afternoon in December 2021 (right around the historical height of NFT euphoria). It involved the sale of 29,620 ERC1155-compliant NFTs through the OpenSea marketplace at a primary market price of 0.2 ETH (approximately US$765 per NFT based on the USD value of Ether at the time of the sale).By David Berlind
Published:July 26, 2023
8 min read
