Adidas ventures into the realm of NFT’s
In December 2021, Adidas launched its "Into the Metaverse" NFT collections, which sold in a matter of hours. The company sold 29,620 NFTs for 0.2 ETH, which translated into $765 at the time, netting the company more than $22.0 million in sales at the time. According to Adidas, each NFT will unlock digital and physical benefits in the near future. Additionally, it stated that in 2022, NFT holders will be able to burn their NFT and receive physical merchandise, as well as a new copy of that NFT with an increased Phase number, which can be used in later events.
COVID|Balance Sheet|Labor|New Activity|ESGIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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