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Adidas Releases Chapter 1 of Its ALTS Dynamic NFT Collection

Global sneaker and lifestyle brand Adidas has expanded its Into The Metaverse non-fungible token (NFT) ecosystem with the release of the ALTS by Adidas collection.

Adidas first released its Into The Metaverse collection in December 2021. Its first Web3 exploration, a collaboration with NFT influencer gmoney, PUNKS Comic and Bored Ape Yacht Club, allowed holders to burn their NFTs to receive a new ERC-1155 token from the next phase of the project and claim physical clothing items.

Holders of NFTs from the first two phases of the Into The Metaverse collection can now burn their NFTs to receive a new NFT from the Ethereum-based ALTS by Adidas collection, paying only for gas fees. The new stage in Adidas' Web3 journey involves a dynamic NFT with eight different "ALT[er] egos" that correspond to different rarity traits and interactive storylines.

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