Adidas is the top sports and fashion footwear brand in the world. The company has not been hesitant in sponsoring the top athletes and investing big money into marketing and advertisement. It does not come as a big surprise that the sportswear brand has now signed a deal with Coinbase cryptocurrency exchange.
The news was broken on Twitter by the official verified account of Adidas Originals. The news did not reveal a lot of detail about the terms and uses of the new deal. However, it has made it certain that Adidas has officially ventured into the digital asset market. Another major deal signed by the brand is with the Metaverse gaming platform called Sandbox.
Adidas Shows its Interest in Metaverse
The hype around Metaverse is bogged down by many people. However, the whale investors and big brands are taking no time to purchase the advertisement spaces that are available for sale or rent in this virtual reality space. The brand is rumored to have purchased space in the Sandbox gaming ecosystem for placing its advert.
On the other hand, the details about the partnership of Coinbase and Adidas are not made public yet. Different opinions are roaming around in the crypto community about how it is going to unfold. Some market experts speculate that recently Coinbase has been focusing on creating an NFT marketplace. Provided the brand value of Adidas, it will not be a big surprise if the brand marketing team launches a digital artwork series that could go for sale to fetch big numbers.
The official Twitter account of Sandbox recently posted about the partnership with Adidas. The tweet also added a hyperlink address that leads to the virtual plot owned by Adidas in the Sandbox gaming universe. The 144 Adidas Original has amassed 400 ETH worth of invested interest in no time, which is valued at $1.7 million at the current market value of ETH.
Sports experts predict that the brands like Nike are soon going to follow suit and venture to Metaverse to start their virtual marketing campaigns. Nike has already decided to name its VR estate in the Metaverse NIKELAND. Media outlets have reported that NIKE is having correspondence with the Patents and Trademark Office that hints at its NFT debut in the near term.