Adidas Originals pauses collaborative NFT mint

After announcing its collaborative NFT drop with well-known crypto figures, the German sportswear brand Adidas paused its inaugural mint shortly after its start. 

“Early access is not closed but minting has been paused while the developers investigate issues with Mutant Ape Yacht Club not being able to mint. We will update you as soon as we can,” Adidas Originals tweeted

"We're working hard to resume the Early Access mint. Everyone with failed transactions will be able to mint after the sale resumes. And for those of you who lost gas fees, we are gathering your details and will reimburse you. Thanks for bearing with us," the company later said.


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

Before the pause, 9,255 of the 30,000 total NFTs have been minted — which already nets Adidas Originals 1,851 ETH (roughly $7.2 million USD). The firm stands to gain around $23 million once the mint closes. Adidas did not respond in time to clarify whether the firm will hold the proceeds of the mint as ETH or convert it into fiat currency. 

Adidas Originals had partnered with the popular NFT collection Bored Ape Yacht Club, the NFT collector gmoney and the crypto-focused media group PUNKS Comic for the NFT drop. 

Owners of these NFTs get access to physical items and forthcoming metaverse events from the four partners at no additional cost.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.