Adidas forms partnership with cryptocurrency exchange Coinbase

Adidas has announced a collaboration with the American cryptocurrency exchange Coinbase.

Details of the deal are not yet known, but media outlets suggested that it could involve either a joint NFT collection or the integration of cryptocurrency payments into the Adidas ecosystem.

Earlier, Adidas hinted at the possibility of building a metaverse on The Sandbox’s GameFi platform.

Judging by the tweet, the sporting goods company appears to have acquired land from the project.

“adiVerse anyone? What should we build together in @TheSandboxGame?,” Adidas Originals asked its followers.

Likely, it refers to creating the “metaverse of clothing” – a segment that has thus far been mainly pursued by luxury fashion brands.

The new partnerships mark Adidas’s first forays into the crypto market.

Against this backdrop, the native token SAND rose 14.4% over the past 24 hours, according to CoinGecko. As of writing, the token traded at about $8.13.

Earlier, the blockchain gaming platform announced partial launch of its metaverse for a limited number of users on 29 November 2021.

In early November, the project raised $93 million in a funding round led by Vision Fund 2 from SoftBank.

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