Adidas Originals Pockets $23.5 million with the First NFT Drop

​Sportswear Adidas Originals received 5,924 ETH, or $23.5 million, via its "Into the Metaverse" collaboration with Bored Ape Yacht Club (BAYC), the non-fungible token (NFT) collector gmoney, and the crypto-focused media firm PUNKS Comic.

On December 17, Adidas Originals launched its Early Access minting stage, in which holders of an Adidas Originals proof-of-attendance protocol ("POAP," which are handed to participants of virtual or real events), gmoney POAP, a BAYC or Mutant Ape Yacht Club NFT, or a Pixel Wallet NFT obtained access. The Early Access stage generated 20,000 NFTs worth 0.2 ETH — $15.5 million — and concluded just after 5 p.m. ET.

Those lacking these assets can still purchase one of the 9,620 "Into the Metaverse" NFTs starting at 6 p.m. ET in a general sale. When it was finished, it added nearly $7.5 million to the mint's overall profits. 380 NFTs are being held by Adidas Originals and its partners for future events.