Adidas Enters the Metaverse

Adidas, the sportswear company known for its sneakers, started making waves in the crypto space when it announced its partnership with Coinbase in November. The company is also collaborating with the metaverse company, The Sandbox. Today, the company launched “Into the Metaverse” NFTs collection in collaboration with BAYC, Gmoney and Punks Comics. The NFT drop, which had a few bumps today, sold out immediately and had a gas spike of almost 2,000 GWEI. For reference, gas is typically 100-150 GWEI.

This the company’s first jump into the exciting Web 3.0 space. The CTO believes this new medium will allow traditional companies, creatives and the community to connect on a whole new level. The first NFT drop will likely be users gateway into whatever Adidas may be building in Web 3.0.

Harsharn Singh
Investment Associate | Ember Fund

Thank you for reading!

Don't forget to come into the app tomorrow to continue learning about crypto! 

Enjoying Ember?