Adidas/Bored Ape
If youâve started to generally understand the ebbs and flows of cryptocurrencies, the volatility of Bitcoin and the rest, and started to comprehend why blockchain tech has a big future beyond Dogecoin, it probably means youâre late to the NFT party. Non-fungible tokens are, well, unique. (Thatâs what non-fungible means.) Theyâre sort of like a digital trading card in a lot of ways.
These digital goods are shaking up the art world, sports collectibles and many other fields. And youâre late to the party because, well, Adidas is making bank, and Nike is chasing the NFT bucks as well.
Over the weekend, Adidas'first NFT effortmade over $23 million in Ethereum, from a $15.5 million Early Access phase and $7.5 million in general sales. It wasnât entirely smooth sailing â Adidas had to halt early transactions due to a technical hitch. It did, however, prove thereâs an audience for NFT collaborations, starting with this partnership with Bored Ape Yacht Club (an existing collection of Bored Ape NFTs).