Adidas is Working On Its ‘Into The Metaverse’ Roadmap, Teases New NFT Collab with Prada

Adidas tweeted yesterday that it is working on its Into The Metaverse (ITM) roadmap and teased an upcoming NFT collab with Prada.
Image source: Adidas

Quick take:

  • Adidas is developing its 2022 roadmap.
  • Physical ITM merch redemption will take place in March.
  • An NFT collab with Prada will be revealed on Jan 24.

Adidas revealed in a Twitter thread yesterday that it is working on its first-ever roadmap for Into The Metaverse (ITM), its sold-out NFT project launched in collaboration with NFT pioneers gmoney, PUNKS Comic and Bored Ape Yacht Club.

While the full roadmap has yet to be released, Adidas gave its ITM community some updates on the perks for ITM NFT holders. As promised, holders are granted access to exclusive physical merch featuring the iconic adicolor Firebird tracksuit, a PUNKS Comic graphic hoodie and gmoney’s classic orange beanie which are all available to claim in March.

For phase 1 of the roadmap, holders of ITM NFT can connect their wallet to the ITM website and order one piece of physical product of their choice per NFT held in the wallet. Claiming the physical merch will burn the ERC-1155 NFT in the holder’s wallet, but holders will receive a phase 2 ITM token in return.

“We chose this “mintpass-style” approach so that secondary market buyers understand if ITM NFTs have already been redeemed for physical products, and what they remain eligible for,” Adidas explained in a tweet.

Holders will have a limited time window to redeem their physical products and those who’ve missed the redemption period won’t be able to claim the products later.  There will be a total of four phases and redemption periods for ITM.

However, the retained tokens for those who don’t claim the products in phase 1 will still be eligible for the next claim, though NFT holders are not obligated to phase up their claim at any redemption period. At this point, it’s still unclear how this will affect collector’s value or the floor price of the tokens on the secondary market.

Following the ITM update, NFT influencer gmoney tweeted a teaser of Adidas’ new NFT collab with Prada today. Titled {ADIDAS : PRADA, RE-SOURCE}, it appears to be dropping on Jan 24. Both brands have previously collaborated on a selection of apparel and accessory pieces.

Though gmoney was involved in the ITM NFT collection, Adidas’ NFT collab with Prada looks to be a completely separate collection from ITM. As luxury fashion brands are filing for trademarks in the metaverse, Prada is joining the likes of Gucci, Burberry and Balmain in staying on top of the NFT trend. 

Gmoney was flown out by Prada to attend its Fall/Winter 2022 men’s fashion show on Jan 17 and showed off his NFT on the front row. He later posted an Instagram photo with techno DJ Richie Hawtin, with the caption “how will music be disrupted by NFT’s this year?”.

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