Adidas Moves Into the Crypto Space With Coinbase and The Sandbox as Partners

Crypto and the metaverse are two of the most interesting technological concepts of recent years. Everyone is looking into integrating one or both into their services.

Adidas Moves Into the Crypto Space With Coinbase and The Sandbox as Partners

Last month, we got yet another exciting entrance. Adidas is apparently joining both crypto and the metaverse spaces.

Coinbase's Extensive Clientele Now Includes Adidas

In the last week of November, Adidas announced on Twitter it had partnered with Coinbase on an upcoming project. The partnership is between Coinbase and Adidas Originals - a division of Adidas focused on fashion, lifestyle, and heritage products.

So far, neither company has made a statement on the specific nature of the partnership or what they are looking to accomplish.

Adidas explained that the partnership was "probably nothing." Coinbase replied with a simple tweet welcoming Adidas to its party.

The lifestyle and apparel brand could decide to accept payments in crypto, with Coinbase acting as custody partner. Or, it could be using Coinbase Custody as its channel for making investments in crypto - much like Tesla and MicroStrategy.

Regardless of the purpose, a company like Adidas entering crypto is yet another indicator of crypto's powerful future potential.

Moving Into the Metaverse

While Adidas has been coy about its crypto plans, the company is less ambiguous about what it hopes to achieve with the metaverse.

Just a few days before the Coinbase announcement, The Sandbox - an online game with strong multiverse ties - tweeted at Adidas, offering the German apparel brand an opportunity to build the future of its metaverse together.

The Sandbox's tweet contained a link directing visitors to the details of a piece of in-game land. The land appears to have been allocated to Adidas Originals, although it is unclear whether it was a purchase or a gift.

As for links between both announcements, anything is possible. Speaking with City AM, a spokesperson for Adidas explained that the Coinbase partnership is part of a broader push to gain a stronger hold on the metaverse. The spokesperson explained that the metaverse is "one of the most exciting developments in digital," and Adidas would like to explore it.

We're interested in seeing how Adidas plans to pull it all off - from the Coinbase partnership to the new venture with The Sandbox. Will there be an Adidas store on The Sandbox where customers will be able to make crypto payments powered by Coinbase? Maybe a shopping complex where customers can get tokenized Adidas apparel?

Welcome to Nikeland

It's worth noting that Adidas' competitors are making similar plans. Last month, Nike announced the launch of Nikeland, a dedicated metaverse on the Roblox online game platform.

As Nike explained, Nikeland is an immersive space that allows players to interact in free games and sporting activities.

Players can compete in sports activities and explore a new digital universe. As expected, Nike will offer digital versions of its apparel, allowing players' avatars in the metaverse to equip them. Some attire may be available as rewards, with players winning articles for competing and placing in metaverse games.

With Nikeland, Nike is becoming one of the first major brands to embrace the metaverse. Describing how the metaverse will work, the company stated:

"The buildings and fields within Nikeland are inspired by Nike's real-life headquarters and host detailed settings for the Roblox community to put their skills to the test by competing in various minigames."

Some of these minigames include dodgeball, tag, and "the floor is lava." Players can also create their own minigames thanks to Nike and Roblox's design tools and interactive materials.

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