Adidas Announces Coinbase Deal, Just Days after Announcing Its Entry into the Metaverse

Adidas, the worldwide sportswear company, has announced a relationship with Coinbase, a Nasdaq-listed cryptocurrency exchange, in the same week that it opted to spend a lot of money on a plot of land in The Sandbox, a blockchain-based virtual game environment. While neither release provides any specifics or hints as to whether the two events are connected, it's possible that the corporation intends to spend cryptocurrencies in The Sandbox; if so, Coinbase may assist it in making the necessary investment. Adidas announced on Twitter that it is cooperating with the cryptocurrency exchange Coinbase, but provided little information on the agreement, concluding with a phrase seen a lot in the crypto world: "Probably nothing."

As it answered, Coinbase confirmed the collaboration "[Good day]... Partner, welcome to the celebration!" Adidas also took notice of the Ethereum-based virtual reality game The Sandbox and proposed that it develop something in the game's virtual land parcels, dubbed "AdiVerse." Adidas already has land on The Sandbox, as shown by its name on a plot of ground at these coordinates. It's unknown if the corporation bought this property or whether The Sandbox gave it to them. According to a statement given to City A.M. by an Adidas official, the "metaverse is now one of the most fascinating innovations in digital, making it an appealing platform for Adidas."