Adidas sold more than $22 million in NFTs, but it hit a few snags along the way

All 30,000 of Adidas’ Into the Metaverse NFTs were minted within a matter of hours of going on sale Friday. Each NFT cost 0.2 ETH, which currently equates to about $765, and the company sold 29,620 NFTs (“Adidas and partners” held onto 380 for “future events”), meaning the company earned more than $22 million from the sales in the span of an afternoon. (The price of Ethereum has been falling while writing this story, making an exact number difficult to pinpoint.)

Adidas made the NFTs in partnership with Bored Ape Yacht Club, Punks Comics, and GMoney (a pseudonymous crypto enthusiast). Buying an NFT gives owners access to special physical goods, like a hoodie and the tracksuit worn by the Bored Ape that Adidas owns, and upcoming digital...

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