Adidas Partners With Coinbase for Metaverse Foray

Adidas Partners With Coinbase for Metaverse Foray
  • Adidas has partnered with Coinbase.
  • Adidas also partnered with The Sandbox, a popular NFT metaverse.
  • The partnership will see the launching of Adi-verse.

Global sneaker brand Adidas has finalized its partnership with major cryptocurrency exchange Coinbase. In fact, Adidas Originals even posted a tweet with minimal details.

The tweet has made people guess regarding the partnership details and extent. As it turns out, Adidas is making its foray into the NFT and metaverse space and has partnered with multiple companies including Coinbase.

Specifically, Adidas will have its Adi-verse in partnership with The Sandbox, a metaverse that enables people to develop their own virtual space. Within The Sandbox, individuals can create their own avatar and purchase virtual lands where they can do whatever they want.

Popular activities in The Sandbox include minting digital items through NFTs, hosting virtual meet-and-greets and concerts, and developing games. The Sandbox has enabled celebrities to successfully hold their activities. While Adidas and Coinbase have yet to spill the beans, many are hoping that Adidas will launch its own NFT collection at The Sandbox.

In another news, the crypto market is still down as we are approaching the last month of 2021. Specifically, the combined market capitalization of cryptocurrencies is at $2.5 trillion, which is down almost $500 billion from November’s highest. At the time of writing, Bitcoin price is at $54,268 while Ethereum price is at $4,080.41, according to CoinGecko.

The market dip is due to the new strain of COVID-19, which has also affected other markets such as the oil and gas and stocks.

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