Blockchain innovation is a rapidly-moving freight train. Take your eyes off for a moment, and you look back and always find new, exciting developments. Such is the rapid progress in the decentralised finance (DeFi) and NFTs industry that BC.GAME always strives to keep up with. The Non-Fungible Token (NFT) scene is also gradually attracting the attention of the high and mighty. This innovative sector for creating and trading virtual assets has introduced excitement and dynamism to blockchain innovation. Accordingly, crypto gambling games with Metaverse themes and NFTs are also increasing. This dynamism has only become possible after the exponential rise of this industry. Recently, the launch of Metaverse by Facebook has boosted Metaverse-themed tokens like Sandbox. NFTs will be crucial in-game items in the virtual reality and metaverse gaming ecosystems. Similarly, popular fashion, art, and other collectables provide great use cases for NFTs.
Adidas’ Big Move into NFTs
NFTs became a buzzword in 2021, so much so that Spotify had to humorously name-drop the phenomenon in their inaugural personalised Spotify Wrapped to users. One of the most prominent clothing and shoe manufacturers, Adidas, is getting in on the action. The global giant announced that it would release its next collection as a mix of digital and physical items. Adidas named it the “Into the Metaverse” project.” Its debut weekend generated 11,391 Ether (ETH), worth over $43 million on OpenSea, which will be highlighted below. This collection will be in NFTs, with physical versions of the same items on sale.
Adidas Originals is a prominent part of the Adidas brand specialising in casual wear and heritage products. Items in this field have a great aesthetic, and Adidas Originals items are chic. They fit perfectly into the NFTs’ mould of exclusivity and value. Into the Metaverse is a cool name for the collection to fit into the times. The topic of a Metaverse is immense, with Facebook launching its three-dimensional internet Metaverse. Blockchain developers are keen on this implementation, with a few metaverse-themed tokens performing well. Accordingly, Adidas Originals will unveil their virtual wearables in the Sandbox gaming metaverse. Users can redeem related physical products from 2022. Adidas has made a bold move in the NFT scene and will compete with its rival Nike, which has partnered with collectables brand RTFKT. Adidas Originals had become the top trending OpenSea collection at press time.
OpenSea: NFTs Marketplace
Just like cryptocurrencies, NFTs need marketplaces for investors to access them. OpenSea has emerged as the most significant NFTs marketplace. It launched in 2017 but has shot to fame over the past 18 months with the explosion of this industry. CryptoKitties, a notable collectables game, created the first digital assets that helped establish OpenSea as the premier NFT marketplace. This platform has grown steadily, and its popularity was a case of preparation meeting opportunity. It is now abuzz with activity as the NFT scene continues to increase. The range of digital assets includes art, domain names, game items, music, and more. Notably, OpenSea runs on the Ethereum blockchain.
Therefore, you need an Ethereum wallet to trade NFTs on OpenSea. This platform supports related blockchains like Layer-2 solution and Polygon (MATIC). There are hundreds of payment options when trading for digital assets. The most common NFT token standards are ERC-721 and ERC1155. They ensure that each NFT is unique and able to preserve its value. The ERC-20 token standard is typical for regular Ethereum tokens to facilitate easy exchange. It is popular because most developers have used this standard to create tokens.
MetaMask Has a Central Role in This Era
Like OpenSea, Metamask is a utility product benefiting from the blockchain boom. Specifically, Metamask is an Ethereum digital wallet that facilitates easy access to decentralised applications. Software Company, Consesys, created the wallet in 2016. It has since grown in popularity to become the most popular Ethereum wallet. Users have seamless access to decentralised exchanges (DEXs), gaming platforms, and staking opportunities in decentralised finance (DeFi). These form the essence of Ethereum commerce, explaining Metamask’s popularity.
It now has approximately 10 million monthly users, which is impressive. It provides a useful bridge for a user on the Ethereum blockchain. The wallet can store any Ethereum token and provides requisite user-friendliness. Notably, its team has made it compatible with multiple browsers with Android and IOS apps. Wallet security is a non-negotiable aspect of cryptocurrency handling. Metamask has the edge over other hot wallets (connected to the internet) because of its encryption capabilities. Passwords and private keys are more secure, with the user only needing to manage their independent seed phrase.
That said, individuals must be careful with their private keys and only store funds for imminent trading or use on Metamask for better security guarantees. For better security, long-term storage of significant digital assets should be in offline wallets. This app can access multiple mainnet networks and connect to several wallets. Such utility is vital for individuals who juggle different aspects of blockchain commerce.
This era continues to unveil the potential of digital finance and how players in online gambling like BC.GAME continue to adapt to these positive changes. The news that Adidas is now delving into the NFT scene is not surprising for many crypto enthusiasts. It is merely an affirmation of an existing trend. Nonetheless, it is still a display of how far the blockchain sector has come. Support platforms like OpenSea and Metamask continue to benefit from this boom. Sneaker collection is a notable trend in today’s popular culture. Adidas is offering its customers a chance to immortalise products on the blockchain. OpenSea lists NFTs that display remarkable diversity, reflective of the NFT market itself. It will be fascinating to track other emerging trends in this sector.