adidas partnership sandbox

Shoe giant Adidas is partnering with the crypto exchange Coinbase, though details on the new partnership remain unclear. The Adidas Originals Twitter account announced the news to its four million followers on Wednesday, jokingly saying it was “probably nothing.” Coinbase retweeted the German shoe giant’s announcement, saying “Welcome to the party, partner!” Neither company has issued any additional information about the new partnership.

The announcement comes right on the heels of another surprise crypto pairing for Adidas. Earlier this week, the shoe company appeared to announce a partnership with the metaverse platform The Sandbox (SAND).

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Adidas Originals, which produces casual apparel and sportswear, appears to have purchased some digital territory in The Sandbox’s metaverse, based on a map on the project’s website. The Sandbox’s native token, SAND, is trading at $7.09 at time of writing, up more than 65% in seven days.

The 42nd-ranked crypto asset by market cap is down more than 8% on the day, however. The Sandbox partnership isn’t Adidas’ first foray into the crypto world.

In 2018 and 2019, the German company partnered with VeChain (VET), an enterprise cryptocurrency and blockchain platform, on different sets of shoes that were equipped with near-field communication (NFC) chips to track their authenticity.

Launched in 2011 by Pixowl, The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community.

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