Adidas’ turn to get into the cryptocurrency world? The brand has announced a new partnership with exchange platform Coinbase, after buying plots in virtual world The Sandbox.
Adidas is getting into the cryptocurrency business
Adidas’ debut in the cryptocurrency sector is rather quiet. A few days ago it was learned that the brand had bought 144 plots in the virtual universe The Sandbox, for more than 400 ETH, or 1.7 million dollars
Hey @adidasoriginals, impossible is nothing in the Metaverse. What if we invite all of the original thinkers and do-ers to design our future together?https://t.co/xQrfAWHBky pic.twitter.com/fTCaqf6fho
– The Sandbox (@TheSandboxGame) November 22, 2021
The metaverse and projects like The Sandbox or Decentraland are attracting more and more attention from brands. Nike, the historical competitor of Adidas, even unveiled its own metaverse this week, in collaboration with Roblox.
A partnership with Coinbase
Today, it’s another cryptocurrency heavyweight that has attracted Adidas’ interest: Coinbase. The brand announced the partnership in a rather terse tweet, without giving any details
We’ve partnered with @coinbase
Probably nothing.– adidas Originals (@adidasoriginals) November 24, 2021
Coinbase also did not specify the nature of the partnership. Speculation is rife, and for the time being is focused on non-fungible tokens (NFTs), a hot topic if ever there was one. Other rumours suggest that Adidas could offer a cryptocurrency payment system with Coinbase.
Details will of course emerge in the coming weeks. What is certain is that brand interest in metavers and blockchain technologies is at an all-time high, and this seems to have been accelerated since Facebook’s announcement that it has become Meta.
