Adidas Originals announces partnership with Coinbase

Adidas Originals, a brand of the German sportswear clothing firm Adidas, has announced a partnership with the crypto exchange Coinbase.

“We partnered with @Coinbase. Probably nothing,” Adidas Originals wrote in a Wednesday tweet.  Coinbase affirmed the partnership with “gm @adidasoriginals. Welcome to the party, partner!”

Adidas Originals did not respond to a request for more information about the partnership. However, the brand showed interest in the metaverse in a tweet two days prior to the partnership announcement, suggesting, “adiVerse, anyone?"

“It is a very positive development to see more companies enter the cryptoeconomy. We look forward to seeing all of the opportunities for brands in this growing space,” a Coinbase spokesperson told The Block. The firm did not provide more information about the partnership. 

One potential area of focus may be non-fungible tokens or NFTs, for which Coinbase is developing a dedicated service. Adidas announced the organization of an NFT drop with Jacksonville Jaguars quarterback Trevor Lawrence earlier this year.

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