Iconic apparel brand Adidas prepares to officially enter the Metaverse as they announce their purchase of a Bored Ape Yacht Club NFT. The company has entered a collaboration with Yuga Labs, the creator of Bored Ape, as well as others in the space so it can officially be part of the metaverse–a brand new vision for the future internet wherein people interact with 3D worlds using their owned NFT collectibles.
Sharing the first look at their Ape NFT on Twitter, complete with Adidas-themed apparel on top, they also dropped a trailer teasing the aforementioned alliance. Other than their collaboration with the Bored Ape Yacht Club, Adidas is also joining forces with Gmoney, a notable NFT collector, and Punks Comic, an unofficial Ethereum NFT project inspired by Cryptopunks.
The trailer features Adidas’ new Bored Ape character leaping into a world that has the glowing Adidas logo on it to Louis Armstrong’s “What a Wonderful World” in the background. It also features 3D avatars inspired by Gmoney and an original Punks Comic character.
Having purchased Bored Ape Yacht Club NFT #8774, they plan to turn it into a metaverse character by the name of Indigo Herz. The Punks Comic team has stated that the character will be featured in the next NFT issue of their comic. An Adidas representative commented on the deal, saying it was 5 months in the making.
The Bored Ape Yacht Club is one of the major players in NFT projects, having done 10,000 unique illustrated avatars, each sold for millions of dollars on the secondary market. NFTs are essentially a deed of ownership for an item that’s digital in nature, like video files, artwork, music, and much more. Various celebrities including Jimmy Fallon, Post Malone, and Steph Curry have been known to use them on social media, too.
Regarding the challenge of bringing a company functioning traditionally into a more decentralized world, Erika Decker Wykes-Sneyd–Vice President Global Marketing Communications for Adidas Originals–has been quoted saying “The calls that we have quite often have lots and lots of lawyers on them,” further stating “because it really is fundamentally a massive mindset shift for the way companies run organizations.”