【ALTS by adidas】Your choice will change the rarity! Dynamic NFT x PFP Project
"ALTS by adidas" is a dynamic NFT project of PFP that will be completed through a third chapter managed by adidas.
Good morning.
This is Mitsui, a web3 researcher.
Today I researched "ALTS by adidas".
"Table of Contents"
1、What is ALTS by adidas?
- 8 rarities
- Related NFT
2, adidas has entered NFT in earnest
What is ALTS by adidas?
ALTS by adidas is a dynamic NFT project of PFP that will be completed through a third chapter managed by adidas.
This may be a little confusing, so I will briefly explain in bullet points.
○Into The Metaverse
adidas had started a project called "Into The Metaverse" in 2021 with famous NFT projects such as BAYC.
They sold physical items and digital items at NFT.
○Acquisition by Byrne.
April 2023 new project "ALTS by adidas" starts.
Acquire "ALTS by adidas" NFTs by burning the two types of NFTs sold in Into The Metaverse
From now on, there will be no utility for Into The Metaverse NFTs.
○Dynamic NFTs
ALTS by adidas is a PFP NFT project that will be completed in 3 chapters
Each NFT will have 8 different features, but countless more as future chapters progress
Features will eventually be fixed at the end of Chapter 3
At the time of writing (May 19, 2023), Chapter 1 is still in the process of being completed
■8 rarities
ALTS by adidas has 8 rarities.
Rarity levels vary, and there are also different utilities depending on the rarity selected, apart from the utility that all holders receive in common. The rarity feature is also called "ALT[ER] EGO".
The utilities are very luxurious and include the granting of 3D files and commercial use rights as well as PFP use. There is also access to exclusive events and exclusive merchandise.
These rarities were randomly assigned on May 1, 2023. However, there were NFTs called universal keys and GM keys, which allowed holders who had purchased them in advance to set the rarity of their choice.
■Related NFTs
Several related NFTs were also released in the project.
○GOLDEN TICKET
The lottery was held on adidas's official application "CONFIRMED". Holding this ticket guarantees the purchase of all limited-edition items that will be raffled off for one year.
○Rift Valley Motel Coin
Coin-shaped NFTs were suddenly airdropped to ALTS holders on May 17. 3 NFTs were dropped per ALTS.
In Chapter 2, it is revealed that ALTS + at least one Rift Valley Motel Coin is required. They can be traded on the secondary market, with a maximum of 10 available. Also, there is no utility in Chapter 2 and beyond.
adidas is entering the NFT in earnest.
Here are my impressions from my research.
They have been selling one-off NFTs for some time, such as collaboration items and NFT launches with famous NFT projects such as BAYC, but now they have finally started running a continuous collection.
Speaking of sports brands in the NFT industry, Nike has already undertaken numerous initiatives, starting with the acquisition of RTFKT, the sale of limited edition sneakers with CLONE X, and the release of Nike's own web3 community, .SWOOSH.
And here comes adidas in full swing. In addition to simply running a series of NFT projects, we are also focusing on reaching out to existing customers by running NFT draws on our official app and official store website.
We are also building a community in terms of new PFP projects using Dynamic NFT, while utilizing the most cutting-edge initiatives in the NFT project.
Dynamic NFT allows the management to change the NFT image data at will, which is fun as a game, but I wondered how that would work. However, I expect that perhaps this adidas project will be a dynamic NFT until the rarity is confirmed, and once confirmed, that data will be inscribed in the chain.
I think this is a very interesting way to proceed.
Dynamic NFT is fun from the user's point of view, and it is easy to generate community enthusiasm and interactive communication in a participatory manner. However, I don't think it would be a good fit from the perspective of NFT if the management side holds the image data forever.
Therefore, the process of the first year or so until the creative is completed is made into a dynamic NFT, a community is created, and when it is completed, it is inscribed in the chain as an NFT. After that, we will work with the completed community to utilize the completed NFT.
It makes a lot of sense and is very easy to build a community. This use of dynamic NFT could be a model case for one of the NFT projects in the future.
We will keep an eye on it and see what happens!
That's all for now, we hope you will help us by liking, commenting, and sharing on social networking sites. Thank you for reading!
reference link：HP / Twitter / OpenSea
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Writer
mitsui@web3researcher
Daily information about web3 (projects, news, explanations of vocabulary, interviews with project owners, and articles about learning and thinking from research).
I run a web3 based Substack with over 1,000 subscribers in Japan. If you have a project that you would like to expand for Japan, please contact me on Twitter.
※This is a translation of a Japanese article, so I apologize for any unnatural English.