Adidas partners with Coinbase and The Sandbox

Adidas has announced a partnership with Coinbase. The company did this the day after it also entered into a partnership with The Sandbox.

Twitter on fire by Adidas

Adidas set crypto Twitter on fire with the following announcement:

“We have partnered with Coinbase. It’s probably nothing.

The institutional adoption of crypto is growing. Adidas is a huge global player. The fact that the company is now going to work together with the largest crypto exchange in America is therefore certainly not nothing. In addition, of course, it is also big news that Adidas is also building its presence in the metaverse.

On Tuesday, the official Twitter account for Animoca’s open-world blockchain game The Sandbox addressed a tweet to Adidas. There stood:

The tweet contained a link that led curious readers to the coordinates of an in-game land in the game that is apparently destined for Adidas Originals. It is unclear whether the land was bought by Adidas or given to Adidas.

Metaverse is rapidly gaining popularity

An Adidas spokesperson told CityAM on Thursday that the partnership with Coinbase is part of Adidas’ strategy to gain a foothold in the metaverse. The spokesperson said:

“The Metaverse is one of the most exciting developments in the digital world right now. This makes it an interesting platform for Adidas.”

Late last month, Facebook announced it was coming with a new name, Meta. In addition, it indicated that it would embrace NFTs to gain an edge over Metaverse. Just a week later, Nike filed four applications to patent “virtual goods.” This reportedly concerns various digital goods, including glasses, bags, backpacks and sports equipment.

In any case, the SAND token benefits from all the hype surrounding the metaverse. The price is up more than 16% today and is at around $7.40 at the time of writing.

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