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.
Before the pause, 9,255 of the 30,000 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.