Adidas spends 156k on an NFT

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Adidas is the most recent mainstream company to join the Metaverse through the acquisition of a Bored Ape Yacht Club NFT. Adidas purchased the digital artwork for 46 ETH, or just over $156,000 at the time of purchase. The Board Apes are one of the most successful NFT projects to date. With the release of 10,000 unique Board Ape NFTs in April of 2021, the project has generated more than $1.3 billion in secondary trading volume. Celebrities like Post Malone, Jimmy Fallon, DJ Khaled, Steph Curry and companies like Universal Music Group and now Adidas all either own or have some affiliation with the Board Ape Yacht Club project. Through the ownership of a Board Ape, collectors are able to commercialize on the avatars image and interact with other users on the Metaverse.

This segment aired on December 6, 2021.

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