Adidas Partners with NFT Projects, Steps Into the Metaverse

Adidas Partners with NFT Projects, Steps Into the Metaverse
Image Source: Twitter(@adidasorigials)
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Adidas, a German multinational corporation, is partnering with non-fungible tokens (NFT) brands such as Punks Comic and the Bored Ape Yacht Club (BAYC). Adidas has already partnered with Coinbase and expanded its activity on metaverse by launching POAP (Proof of Attendance Protocol). 

This launch will open a new business avenue for Adidas as they will be offering digital tokens for selected users, confirming stepping into the world of cryptocurrencies. A few days back, Adidas bought a piece of digital land named 'adiVerse' on the Ethereum-based VR game The Sandbox. On December 2, Adidas has told the world it's entering into the world of Metaverse and Blockchain technology. The company's Twitter account posted regarding the new partnership with the cryptocurrency investor the Bored Ape Yacht Club (BAYC) NFT project, Gmoney and Punks Comic.

Adidas

Adidas is a German multinational corporation headquartered at Herzogenaurach, Germany. It is the world's second-largest sportswear manufacturer after Nike and the largest in Europe.

Bored Ape Yacht Club (BAYC)

BAYC is a collection of 10,000 Bored Ape NFTs on the Ethereum blockchain. Buying a Bored Ape simply means buying an avatar or a rare piece of art. Membership access to a club and its benefits will increase over time—the Bored Ape doubles accordingly with the Yacht Club membership card. An individual's Bored Ape serves as their digital identity. Each Bored Ape is programmatically generated from over hundreds of possible traits, including expression, clothing, headwear and more. The apes are stored as tokens on the Ethereum blockchain.

Once The pre-sale period is over, the BAYC Bathroom will become operational. Wallets containing at least one ape can access the canvas available in the BAYC Bathroom. It is like a collaborative art experiment for the crypto sphere where each Ape holder can paint a pixel on the bathroom wall every fifteen minutes.

Punks Comic

Punks Comic is a project initiated by Beanie and Pixel Vault. Punks Comic presents a unique opportunity as it is a first-of-a-kind NFT comic. Josh Blaylock and Chris Wahl are the chief storytellers and substance creators of Punks Comic, full of action and suspense. The Comic launched a roadmap that involved providing owners with the option to either hold, burn or stake their NFT in exchange for various rewards. Initially started as a minting and NFT holding project, Punks Comic has now created an entire world of gaming and rewards.

Adidas' move in the space is considered to be a reaction to rival-brand Nike. Previously, the main competitor of Adidas, Nike, expressed their interest in the metaverse. On November 18, Nike disclosed 'Nikeland' in the virtual world of Roblox's 3D space, emerging as one of the first big brands in the world to mark an official entry to the metaverse. Nikeland is free for anyone to visit on Roblox; it allows the players to get up their avatars in unique Nike products. The entry aims to present play and sports as a lifestyle.