On Friday, Adidas completed the minting of its non-fungible token (NFT) collection in partnership with NFT brands Bored Ape Yacht Club (BAYC), PunksComic and influencer gmoney, as we explored before the drop. Overall, the NFT launch brought in $23 million, but as often happens with innovations, it came with a couple of hiccups. And as we’ll show, Adidas kept only a small portion of the takings.
In total there were 30,000 available NFTs for minting, with 380 retained for Adidas events and 20,000 available for early access to the three crypto partners and those that had received an earlier Adidas POAP token. The remaining 29,620 collectibles sold for roughly $775 each, bringing in almost $23 million. The drop sold out within seconds.
The thing about blockchain is the transactions are transparent. So we can see how the proceeds were divided up leaving little for Adidas. But then it’s a different kind of marketing campaign. Each of the three partners received $4.82 million of the proceeds, with PunksComic getting an additional $2.3 million, which happens to be 10% of the overall take. That leaves $6.2 million, which we assume is the wallet that belongs to Adidas, or some other marketing partner.
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