❃Adidas launched an NFT collection with exclusive access to streetwear drops🧗♀️ Nets $23 million after closing its first NFT drop!
Adidas Originals earned 5,924 ETH, or $23.5 million, from its collaborative “Into the Metaverse” drop with Bored Ape Yacht Club (BAYC), the non-fungible token (NFT) collector gmoney and the crypto-focused media group PUNKS Comic.
🦧Someone got lucky with Bored Ape Yacht Club NFT that Accidentally Sold for $3,000 Instead of $300,000
Bored Ape Yacht Club (BAYC) NFTs are some of the most expensive and well-known NFTs around. Now, one of them has been accidentally sold for $3,015, despite being valued at over $300,000.
A review of OpenSea confirms the transaction, which was made on Saturday. The owner previously bought the NFT for 1 ETH on May 30. At that time, Ethereum was trading at roughly $2,290.
The NFT was meant to be listed at a price of 75 ETH—which by today’s prices is approximately $300,000—but the NFT holder accidentally listed the NFT at a price of 0.75 ETH.
“I list a lot of items every day and just wasn’t paying attention properly. I instantly saw the error as my finger clicked the mouse but a bot sent a transaction with over 8 ETH of gas fees so it instantly sniped before I could click cancel, and just like that, $250,000 was gone,” according to the Max the owner.
👜Hermès Calls MetaBirkin NFTs Trademark Infringement
"Hermès did not authorize nor consent to the commercialization or creation of our Birkin bag by Mason Rothschild in the metaverse," a Hermès representative told the Financial Times, which reported the news on December 10. "These NFTs infringe upon the intellectual property and trademark rights of Hermès and are an example of fake Hermès products in the metaverse."
A physical Birkin handbag can sell for between $9,000 and $500,000—or more.
The MetaBirkins NFT collection on OpenSea is the work of digital artist Mason Rothschild and features faux fur and colorful variants of the Birkin handbag. MetaBirkins is the second Birkin-themed collection by Rothschild. The first, called Baby Birkins, also featured a play on the Birkin handbag and was created in collaboration with Eric Ramirez.
Hermès says the issue of MetaBirkins is that it could confuse customers and have them think that MetaBirkins is an official Hermès release when it is not. The other problem is the money. The MetaBirkins collection has raked in 230 ETH, around $936,000, according to OpenSea. That is nearly $1 million (or 100 handbags) Hermès won't see outside of taking legal action.
With the NFT revolution in the Metastreets, we will see who will win or who will be left holding the bag sort of speak.