Adidas has launched a new NFT collection, ALTS by Adidas, as part of its ongoing exploration of Web 3.0 and the metaverse. The collection features dynamic NFTs with eight different "ALT[er] egos," each with uniquely distinct rarity traits and storylines. Holders of NFTs from Adidas' previous two phases of its "Into The Metaverse" collection can transition into the new collection by burning their old NFTs and receiving a new Ethereum-based NFT, incurring only gas fees. Adidas has partnered with notable names in the space, including PUNKS Comic and Bored Ape Yacht Club, to improve its metaverse presence. The Into the Metaverse collection has a floor price of 0.75 ETH, while the ALTS by Adidas collection has a floor price of 0.78 ETH.

(By Mayowa Adebajo)