Adidas Originals announces partnership with Coinbase

Nov 25, 2021 | The Block News | 0 comments

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.

Image credit: kit lau / Shutterstock.com

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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