Adidas Announces Coinbase Deal, Just Days After Announcing Its Entry Into the Metaverse


Adidas, the global sportswear maker, is going all-in on crypto, announcing a partnership with Nasdaq-listed cryptocurrency exchange Coinbase the same week that it pledged to spend massively on a plot of land in the blockchain-based virtual gaming world. decided. sandbox. While neither announcement gives any details and does little to indicate whether there is an intended connection between the two events, it is plausible that the company plans to spend cryptocurrency in The Sandbox; If so, Coinbase can help him make the necessary investments.

Adidas said on Twitter that it is partnering with crypto exchange Coinbase, but revealed little about the nature of the partnership, ending the tweet with a phrase you hear most often in the crypto world – “maybe anything… No.” Coinbase confirmed the partnership, as it replied “[Good morning]…Welcome to the party, mate!”

Adidas also focused on Ethereum-based VR games sandbox and suggested it would build something into a virtual parcel of the game, calling the “Adiverse” concept. Adidas already owns property on the sandbox, as its name can be seen on a parcel of land these coordinates, It is not clear whether the company bought the land or whether the land was allotted to the company by The Sandbox.

In a recent statement by an adidas spokesperson Speaking To City AM, the company said that “the Metaverse is one of the most exciting developments in digital currently, making it an interesting platform for Adidas.”

While this statement in itself is indicative of the company’s future plans, it is worth noting that Adidas launched an NFT Poap Recent This suggests that Coinbase may be related to that effort, especially if the sportswear giant plans to issue a larger line of non-fungible tokens (NFTs). In the meantime, Coinbase is trying to launch its own NFT marketplace and we may see Adidas use that marketplace to distribute NFTs.

The company can also use coinbase For accepting cryptocurrency As a form of payment, as many other companies have done in the past via Coinbase Commerce, but this is all just speculation for now.

Adidas’s movement into the space appears to be a swift response to rival-brand Nike, which revealed a virtual world after its headquarters on video game platform Roblox became one of the first big brands to mark one. official entry To the Metaverse. The digital space, dubbed “Nickeland,” allows players to outfit their avatars with exclusive Nike products and is free for anyone to visit on Roblox.

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