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Adidas sold more than $22 million in NFTs, but it hit a few snags along the way

All 30,000 of Adidas’ Into the Metaverse NFTs were minted within a matter of hours of going on sale Friday. Each NFT cost 0.2 ETH, which currently equates to about $765, and the company sold 29,620 NFTs (“Adidas and partners” held onto 380 for “future events”), meaning the company earned more than $22 million from the sales in the span of an afternoon. The price of Ethereum was falling at the time this story was written, so it is difficult to estimate. )

Adidas made the NFTs in partnership with Bored Ape Yacht Club, Punks Comics, and GMoney (a pseudonymous crypto enthusiast). An NFT allows owners to access special physical goods such as a hoodie or the tracksuit worn in the Bored Ape’s Adidas experience, as well as future digital experiences. However, the physical merch won’t be available until 2022,

According to Adidas’ FAQ
,, buyers could simply place expensive pre-orders for clothes.

The company offered 20,000 of the NFTs in early access to people who own special Adidas Originals tokens, GMoney tokens, Bored Ape Yacht Club NFTs, Mutant Ape Yacht Club NFTs, and Pixel Vault NFTs — making an already hard-to-get NFT available first to a very limited set of people.

Early access minting began shortly before 1: 30PM ET, but Adidas quickly hit an issue with Mutant Ape Yacht Club owners not being able to mint the NFTs that forced it to pause. Adidas has promised to reimburse everyone who lost gas fees (which are fees taken in order to mint the NFT) while there were problems.

Early access resumed at 5PM ET, and public minting kicked off at 6PM ET. It’s unclear exactly when the NFTs were fully sold out, but Adidas’ website showed that all the NFTs had been minted minutes after the public sale began. However, one person was apparently able to mint many of the NFTs, which may have disrupted how many were actually available.

It’s unclear if Adidas plans to offer more NFTs in the future, but it teases on its website that “this is just the beginning.” Given how quickly the first batch sold out — and how much money Adidas made in just a few hours — it seems unlikely this will be the only NFT offering from the apparel maker. And it will almost certainly want to compete against archrival Nike, which just bought a company that makes virtual shoes and NFTs.

Other companies may also be looking at the success of Adidas’ NFTs with dollar signs in their eyes, but before they rush to the nearest blockchain, they might want to consider the cautionary tale of the planned NFTs for S.T.A.K.E.R. 2. Developer GSC Game World announced the NFTs on Wednesday but received swift backlash from fans. The developers tried to lower the heat by tweeting out an explanation on Thursday, but it quickly deleted that before announcing it would be canceling its NFT plans altogether.


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NFTs Enrich Gaming Communities, Drive Stronger Engagement, Says Gaming Veteran

According to Luke Paglia, the COO at AGMI Studios, while traditional non-fungible token (NFT) art has lacked real utility, which explains its declining popularity, NFTs still have an important role to play in the gaming industry. To back this assertion, Paglia cites game developers’ use of NFTs “to innovate and bring new forms of value [……
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Futurama’s new season struggles to make NFTs and AI funny

It only takes a few minutes before Futurama’s new season starts explaining non-fungible tokens, or NFTs, a concept most people probably haven’t thought about for more than a year.

Despite being set in the far future, Futurama has always been comfortable commenting on modern life. There have been episodes about smartphones and 3D printers that use sci-fi nonsense to complicate the concepts in a way that makes them funny. That has largely continued to be true over many years (and cancellations). But in its Hulu revival last year, the show really started to mess up the balance, and its topical jokes began to overshadow the sci-fi gags. The upcoming 12th season struggles even more to find a Futurama-style twist on absurd ripped-from-the-headlines storylines about NFTs and AI. It makes for an uneven season that often feels like it’s missing what originally made the show so special.

The NFTs are the most egregious example, and they also happen to be featured heavily in the debut episode, which makes for a terrible first impression. The convoluted plot involves Bender selling a CryptoPunks-style collection to make a quick buck, which somehow leads him on a quest to discover his origins in Mexico. Meanwhile, the rest of the Planet Express crew attempts a heist to liberate Bender’s NFT collection from an art museum, only to be thwarted by the complexities of the blockchain and digital ledgers.

The problem is that these aren’t some sort of quirky Futurama take on NFTs — they’re just regular NFTs as we know them now, terrible art connected to a digital receipt. The episode spends an annoyingly large part of its runtime explaining the concept — which, to be fair, is hard to do succinctly — without offering much by the way of jokes or commentary. It just assumes NFTs in and of themselves are enough to make people laugh.

More than a decade ago, when we all thought Futurama was really over for good, executive producer and head writer David X. Cohen explained to me how the show was able to successfully translate modern problems into its retrofuturistic world. “We always like it when the real world gives us ideas for episodes,” he said. “Setting the show 1,000 years in the future does not mean you’re not going to comment on society today, it just makes it one step removed.” As the NFT episode proves, it’s that “one step removed” part that’s so important. Without it, the episode is a bunch of dull jokes that are also painfully dated.

I’ve seen the first six episodes of the season (there will be 10 in total), and things fare slightly better later on. There’s a Squid Game spoof that explores Fry’s childhood through some kind of bizarre time travel and a fast-fashion episode that turns Cara Delevingne into Frankenstein’s monster and the professor into a style icon. I wouldn’t say these are examples of Futurama at its best — the jokes are hit or miss, and most are lacking the heart that keeps the show grounded. But they at least understand Futurama’s original premise: using this weirdo future as a lens to exaggerate modern issues.

This is less true in the most unoriginal episode of the bunch, when the show turns an AI chatbot into Leela’s jealous friend. It’s just about every AI movie trope rolled into 20 minutes of animation. It’s also pretty weird to tackle AI as a new thing at all given Futurama is swarming with sentient robots.

Maybe there’s more heart and wit in the later episodes, as Hulu does promise the season will explore “the next chapter in Fry and Leela’s fateful, time-twisted romance.” But from what I’ve seen, the balance is too far askew. There’s too much focus on being topical and not enough on the oddball humor, long-running characters, and warmth that has made it all work so well before. Like the rest of the world, Futurama should’ve left NFTs in the past.

Futurama season 12 starts streaming on Hulu on July 29th.

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Trump Reaffirms Support for Crypto, Plans to Launch 4th NFT Collection

Former U.S. President and presidential candidate Donald Trump has reaffirmed his support for cryptocurrency, emphasizing: “If we don’t do it, China is going to pick it up” and dominate the industry. He revealed that he will launch another non-fungible token (NFT) collection. He stressed that almost all of his previous NFTs were paid in crypto…
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