Adidas' first NFT drop earns $23 million

Adidas' first NFT effort appears to have been a success. The Block has learned the collaboration with Bored Ape Yacht Club, Gmoney and Punks has raked in more than $23 million in Ethereum between a $15.5 million "Early Access" phase and $7.5 million in a general sale. All told, the drop minted nearly 30,000 NFTs despite a hiccup that led Adidas to pause early transactions. The number may not sound large for such a well-known brand, but Adidas managed the equivalent of $538.4 million in profit du...