Adidas enters the Metaverse with NFT partnerships

On Thursday, Adidas announced it was entering the Metaverse in collaboration with Bored Ape Yacht Club, gmoney NFT, and PUNKS Comic. In an article posted on the Adidas mobile app, the developers behind the initiative said the following:

This autumn, Adidas, known for celebrating ideas at the bleeding edge of originality, it settling in at the frontier of creativity: The Metaverse. Our goal there? To see every one of its inhabitants thrive. The Metaverse is where anyone can express their most original ideas and be their most authentic selves, in whatever form they might take. And thanks to the blockchain [and NFTs], those pioneers can own a piece of what they create.

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In the article, a piece of the Bored Ape nonfungible token (NFT) has been redrawn to feature Adidas’ iconic tracksuit. Bored Ape Yacht Club contains more than 10,000 NFTs minted on the Ethereum (ETH) blockchain. Meanwhile, gmoney is a notable cryptocurrency and NFT influencer who has been featured on Fortune NFTy 50. Lastly, PUNKS Comic combines both the world of NFTs and physical comic books to create so-called crypto comics. Cointelegraph Research projects that NFT sales could reach a record finish of $18 billion by the end of the year, making the sector one of crypto’s hottest performers.