Yesterday, German apparel company adidas announced its third and final phase of the ‘Into the Metaverse’ project: a dynamic non-fungible token (NFT) collection called ALTS. The collection will develop over three distinct chapters throughout 2023, starting with the burning of Phase 1 and Phase 2 Into the Metaverse (ITM) tokens. Indigo Herz, adidas’s Bored Ape NFT and representative in Web3, had this to say on Twitter:
In a departure from previous phases of the ITM project, NFT collectors might not receive wearables for their participation in Phase 3. Instead, their character will evolve based on decisions and engagement with a storyline, leading to the reveal of a unique PFP at the end of Chapter 3. There are eight PFP types and countless traits, with rarity included, according to the ALTS official website.
Users can receive one Phase 3 token per Phase 1 or Phase 2 token burned with no limit. The new tokens will follow the ERC-721 Ethereum protocol. Multiple ETH wallets are supported for the burn-to-claim process, including MetaMask, WalletConnect, and Coinbase Wallet. There is no charge to claim the new token, although users will need to pay a gas fee.
To counter scams, adidas recommends completing the burn-to-mint process on its ALTS collection website. The company has also made the contract address known, with Etherscan showing that the contract source code is verified. As of this writing, over 10,000 transactions have taken place through the smart contract, suggesting that word is spreading about the new collection.
Chapter 1: ALT[ER] EGO Begins
The first chapter of the ALTS collection is called “ALT[ER] EGO.” By the end, participants will receive the first trait of their new PFP, one of eight “alter egos.” As adidas announced earlier today on Twitter, the eight alter egos will be divided into “sports” and “lifestyle” categories. Some are rarer than others.
|Alter Ego||Subcategory||Rarity (%)|
|Sprints||Running & Training||16.5|
|Hoops||Basketball & US Sports||16.5|
|Thrills||Gaming & Action||16|
|Amps||Music & Entertainment||15|
|Soles||Sneakerheads & Skate||12.5|
All ALTS will have certain universal utilities. These include access to a token-gated Discord chat, IRL and metaverse experiences, holder community gatherings, and exclusive partner offerings.
The storyline centers around the seemingly abandoned Rift Valley Motel, which adidas’s Ape stumbles upon while walking through the desert. In the promotional video, a strange light fills his body. The motel rumbles, before the adidas logo outside the hotel tilts to one side.
The tagline for Chapter 1 reads: “You will leave a whole new person.”
The use of a story seems like a significant break from its previous ITM Phases, which attempted to ride the metaverse wave. Instead, Adidas plans to engage holders directly — providing a blend of NFT technology and entertainment.
For now, the company is keeping the storyline under wraps, stating that it will announce more details this month. There’s also no word yet on how much time the three chapters will take and when participants will receive their finished PFP. Rarity Sniper has reached out to adidas for comment and will update this article when it responds.
Dynamic NFTs a New Feature in Web3
While static non-fungible tokens debuted in 2014, dynamic NFTs — the type adidas will use for its ALTS project — are still a relatively new technology development. They present an increased functionality for creators, one that is crucial for certain industries.
Dynamic NFTs (dNFTs) are one-of-a-kind digital assets that can change based on external events. The change takes place through the asset’s metadata and linked image, which the creator can alter. This allows the dNFT to keep its unique identifying code. The industries that most use this type of technology are sports and gaming.
An example of a sports dNFT collection is the NBA’s set released for the 2022 playoffs. The Association based the collection on 75 players from all 16 playoff teams. Throughout the playoffs, the dNFTs updated their appearance depending on how the player performed. Some metadata categories included points, rebounds, and turnovers.
Gaming dNFTs take a similar approach. As a player progresses through the game, they may gain attributes they can add to their weapons or armor, such as power boosts and other traits. When the player applies these attributes to the item, the underlying NFT changes, updating the metadata and even the visual appearance of the item.
How adidas will implement dNFT technology for its ALTS collection is still unknown, but if it succeeds, more companies may follow suit. Rarity Sniper will keep an eye out for any updates in this story and report back.