The German sportswear manufacturer Adidas (ADS) has entered the metaverse by purchasing a portion of land on The Sandbox map. This marks their first step into virtual reality and cryptocurrency for the brand.
Adidas was the first fashion brand to enter The Sandbox, a virtual reality that is part real estate and amusement park.
The Sandbox hinted that Adidas will offer virtual reality products.
“That’s something big because it is also a hint of what’s about to hit the fan in a couple of months in the NFT space: the Adidas sneakers and other branded virtual clothes, shoes and objects,”
Ipek Ozkardeskaya, senior analyst at Swissquote, as quoted by Reuters.
Adidas Partners with Cryptocurrency Exchange Coinbase
Adidas is also stepping into the world of cryptocurrencies. The shoe and sportswear company announced its partnership with cryptocurrency exchange Coinbase.
Adidas took to Twitter and announced that it is partnering with the crypto exchange Coinbase. The company tweeted — “We’ve partnered with @coinbase. Probably nothing.”
Coinbase confirmed the partnership, and replied: “Good morning..Welcome to the party, partner!”