Adidas NFT Collection Sold in Hours, What is NFT?
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Adidas NFT Collection Sold in Hours, What is NFT?

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Adidas NFT Collection Sold in Hours, What is NFT?

Koleksi NFT Adidas Laku dalam Hitungan Jam, Apa Itu NFT?

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The world famous shoe company from Germany, Adidas, recently launched a collection of 30,000 NFT or Non-Fungible Tokens, each sold for 0.2 Ethereum (ETH) or approximately IDR11 Million.

No doubt, the Non-Fungible Token made by one of the most famous shoe brands in the world was immediately sold out in just a matter of hours. In total, Adidas managed to earn around $22 Million, its about IDR315 Billion.

The fact, this is the first time Adidas has entered the Non-Fungible Token business. On that occasion, Adidas collaborated with Bored Ape Yacht Club, Punks Comics, and GMoney.

Consumers who purchase the Non-Fungible Token will get access to special Adidas products, such as hoodies and sports clothes worn by the Adidas character, Bored Ape.

In addition, these buyers will also get to experience the digital world that will soon be presented. However, these physical merchandise will not be available until 2022.

To note, Adidas itself offers 20,000 Non-Fungible Tokens in early access to consumers who have special Adidas Originals tokens, GMoney tokens, Non-Fungible Tokens Bored Ape Yacht Club, Non-Fungible Tokens Mutant Ape Yacht Club, and Non-Fungible Tokens Pixel Vault.

What is NFT?

Basically, Non-Fungible Tokens are digital assets that represent assets in the real world. It means, these assets also describe the original objects, starting from works of art, music, to items in games or videos.

This Non-Fungible Token can also be used as a digital certificate for those who have photos, videos, or other virtual forms and it will be recorded on the blockchain. Later, once it’s encrypted on the blockchain, no other party will be able to duplicate or replicate those asset.

Launched in 2014, Non-Fungible Tokens are now increasingly in demand. This is after the massive movement of digital artists to trade this product. As a result, the trading circulation of this asset continues to increase.

How Does NFT Work?

Usually, Non-Fungible Tokens will be transacted through the Ethereum blockchain. However, various other blockchains actually support these transactions as well. The Non-Fungible Token itself resides on the blockchain network.

It may also be said that Non-Fungible Tokens are created or printed from a digital object that represents an item either tangible or intangible, such as artwork, GIFs, videos or video footage from sports events, virtual avatars or personas in video games, designer sneakers, as well as music.

Succinctly, Non-Fungible Token is actually an item similar to a physical collectible, but in digital form. Thus, the buyer will get a digital file for every Non-Fungible Token purchased and also the ownership rights. This uniqueness is also what makes Non-Fungible Tokens valued very high.

Best Tokens and Non-Fungible Token Prices

Although there are several other types of NFT tokens, the following 5 tokens are recommended most often:

  1. DeFi Coin (DEFC):

    This token is known to allow crypto investors to trade digital currencies in a decentralized manner and without intermediaries.

  2. Decentraland (MANA):

    One of the most important tokens in Decentraland because it can be used to pay for avatars, wearables, names, to perform various activities on the blockchain platform.

  3. Tezos (XTZ):

    A low-priced Non-Fungible Token crypto token that aims to build the blockchain protocol of the future.

  4. Chiliz (CHZ):

    On the Ethereum network, this token is popular in the sports world because it serves as a link between sports fans and the teams they support.

  5. Enjin (ENJ):

    This token provides interconnected blockchain-based gaming products. Inside it, users can create websites to store virtual shops.

You can visit Indodax to see and purchase these tokens.

If you want to check the buying and selling prices of MANA, click here
If you want to check the buying and selling prices of XTZ, see this link
If you want to check the buying and selling prices of CHZ, check out this link
If you want to check the buying and selling prices of ENJ, click here

You can also monitor the prices of other crypto assets at Indodax’s Market.

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