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Blockchain Project: adidas Originals: Into The Metaverse

On 17 December 2021, adidas Originals launched the first phase of their three-phase project, Into The Metaverse (ITM) NFT. 30,000 ITM NFT were minted simeoultaneously, selling out in a few hours, creating a profit of an estimated $23 million. The development of the ITM NFT was a collaborative process, taking input from Bored Ape Yacht Club (BAYC), gmoney, and Punks Comic: in the community spirit of this collaboration, early access to purchase the NFTs was granted to holders of BAYC, MAYC, Pixel Vault, gmoney tokens, and adidas Originals tokens. 

This NFT drop was known as Into The Metaverse: Phase 1. Phase 1 was concluded in April 2022, by which point holders were required to claim the physical merchandise to which the ITM NFT had entitled them; claiming the Phase 1 merch triggered the burn of their Phase 1 NFTs, automatically launching Into The Burning: Phase 2, and the minting of the "Into The Burning" NFT (an ERC 1155 NFT). 

Into The Burning is the second phase of the three-phase ITM project launching adidas Originals into web3. 

On 27 April 2022, holders of the Phase 1: Into The Metaverse (ITM) NFT claimed their physical merch,  automatically burning their Phase 1 NFT, thereby triggering the drop of an Into the Burning (Phase 2) NFT to their wallets. 

On 11 May, Phase 2 NFT holders were counted in an airdrop snapshot and slated to receive a mystery capsule in their wallet: this mystery capsule, known as the adidas Originals Meta Capsule, was airdropped in June 2022. The Meta Capsule drop was, at that time, the largest NFT airdrop ever released, featuring a collection of 24,116 NFTs from adidas.

The mystery capsule transformed on 5 November 2022, evolving into The Impossible Box. To reveal the contents of The Impossible Box, holders would "Unbox the Impossible" on 16 November 2022, unveiling the genesis collection of the adidas Originals Virtual Gear Collection, the first collection of NFT wearables from adidas, designed to be interoperable with other identity-based projects, virtual worlds, and PFP NFT collections. 

The third and final phase of the ITM project launched when ITM Phase 1 NFT and/or ITM Phase 2 NFT holders burned their NFTs in order to burn into the ITM Phase 3 NFT (which itself was released with an obligation to burn). When ITM Phase 3 NFT holders burned their NFTs, they automatically received an ALTs NFT, the genesis NFT for a new project which has become the center of the adidas web3 ecosystem: ALTs. This genesis NFT, the ALT[er] Ego NFT, marked the beginning of Chapter One in the Rift Valley project.