Morgan Chittum

<div id="highlights-block_61a906c6e648d" class="highlights">
 <ul>
 <li>Coinbase previously announced a partnership with Adidas</li>
 <li>Adidas purchased digital property in blockchain-based virtual gaming world The Sandbox</li>
 </ul>
 
</div>



Adidas <a href="https://twitter.com/adidasoriginals/status/1466443459951271939?s=20" target="_blank" rel="noreferrer noopener">revealed</a> its collaboration with popular non-fungible token (NFT) collection Bored Ape Yacht Club on Thursday, signaling another move from the company to venture into the metaverse.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">Today we leap Into The Metaverse with <a href="https://twitter.com/BoredApeYC?ref_src=twsrc%5Etfw">@BoredApeYC</a>, <a href="https://twitter.com/gmoneyNFT?ref_src=twsrc%5Etfw">@gmoneyNFT</a> &amp; <a href="https://twitter.com/punkscomic?ref_src=twsrc%5Etfw">@punkscomic</a>. It’s time to enter a world of limitless possibilities.<a href="https://t.co/LmgtrRn20c">https://t.co/LmgtrRn20c</a> <a href="https://t.co/40kU8tayrS">pic.twitter.com/40kU8tayrS</a>&mdash; adidas Originals (@adidasoriginals) <a href="https://twitter.com/adidasoriginals/status/1466443459951271939?ref_src=twsrc%5Etfw">December 2, 2021</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



However, this is not the sportswear brand’s first foray into digital collectibles. Last week, the sneaker giant announced partnerships with <a href="https://twitter.com/adidasoriginals/status/1463571957249630223?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1463571957249630223%7Ctwgr%5E%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F87087%2Fadidas-goes-full-metaverse-with-coinbase-partnership-and-the-sandbox-real-estate" target="_blank" rel="noreferrer noopener">Coinbase</a>.&nbsp;



Coinbase&#8217;s partnership with Adidas is part of the clothing company’s strategy to gain a foothold in the metaverse. “The Metaverse is currently one of the most exciting developments in digital, making it an interesting platform for Adidas,” a spokesman for Adidas recently told <a href="https://www.cityam.com/adidas-partners-with-coinbase-amid-metaverse-push/" target="_blank" rel="noreferrer noopener">CityAM.</a>



Two days prior, The Sandbox, a blockchain-based virtual gaming world, also <a href="https://twitter.com/TheSandboxGame/status/1462871109821419523?s=20" target="_blank" rel="noreferrer noopener">announced </a>that the popular shoe company has a plot of virtual land named after the brand on Nov. 22. However, it is unclear what the digital real estate will be used for or how much it is worth.



“Hey @adidasoriginals, impossible is nothing in the Metaverse. What if we invite all of the original thinkers and do-ers to design our future together?” The Sandbox said in a <a href="https://twitter.com/TheSandboxGame/status/1462871109821419523?s=20" target="_blank" rel="noreferrer noopener">tweet</a>.



The slew of Adidas news follows <a href="https://cms.blockworks.co/nike-files-to-trademark-virtual-goods-hiring-metaverse-designers/" target="_blank" rel="noreferrer noopener">Nike filing a trademark “virtual goods,”</a> according to an application <a href="https://tsdr.uspto.gov/documentviewer?caseId=sn97096366&amp;docId=APP20211030100704#docIndex=1&amp;page=1" target="_blank" rel="noreferrer noopener">filed</a> with the US Patent and Trademark Office. 



In other NFT news today, Defiance ETFs <a href="https://cms.blockworks.co/defiance-co-founder-nfts-will-be-bigger-than-the-internet/" target="_blank" rel="noreferrer noopener">launched</a> a Defiance Digital Revolution ETF (NFTZ) that will be traded on the New York Stock Exchange and offer investors exposure to NFTs, blockchains and cryptocurrency by investing in NFT marketplaces and issuers, as Blockworks reported.



Adidas AG stock is trading up 0.32% at $145.27 per share, as of press time.



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Adidas is Betting Big on the Metaverse; Here’s How

Ben Strack

<div id="highlights-block_6137c1cb49140" class="highlights">
 <ul>
 <li>Partnership with Curry follows deals with NFL quarterbacks Tom Brady and Trevor Lawrence as well as venture capitalist Kevin O’Leary</li>
 <li>Last week FTX acquired the parent company of digital currency futures and options exchange LedgerX as a way to bring crypto derivatives to its US user base</li>
 </ul>
 
</div>



Crypto exchange FTX has grabbed another high-profile athlete to further the reach of its brand and tout the viability of cryptocurrency as it looks to expand its US presence.&nbsp;



West Realm Shires Services Inc. and FTX Trading Limited, the companies behind FTX.US and FTX.COM, have entered into a long-term partnership with Stephen Curry, a three-time NBA champion who has won two Most Valuable Player awards.&nbsp;



Curry becomes a global ambassador for the company, FTX announced Tuesday, and the NBA star will receive an equity stake in FTX Trading Limited as part of the agreement. The deal with FTX comes about a week after the 33-year-old reportedly bought a <a href="https://boredapeyachtclub.com/#/">Bored Ape Yacht Club</a> NFT for $180,000 worth of Ether.



“I’m excited to partner with a company that demystifies the crypto space and eliminates the intimidation factor for first-time users,” Curry said in a statement.



In this new role, Curry will seek to expand the reach of the FTX brand and tout the viability of cryptocurrency to new audiences around the world through several upcoming initiatives, which will be announced in the coming months, a spokesperson told Blockworks.&nbsp;



The partnership comes during a year in which FTX has teamed up with other sports stars, including quarterbacks Tom Brady and Trevor Lawrence.



FTX also <a href="https://cms.blockworks.co/ftx-partners-with-shark-tanks-kevin-oleary/" target="_blank" rel="noreferrer noopener">revealed last month</a> that entrepreneur and venture capitalist Kevin O’Leary, best known for his longtime role on ABC’s Shark Tank, is being paid in crypto to serve as an ambassador after he made an equity investment in the company.



The efforts come as the company is looking to build out its US business. FTX <a href="https://cms.blockworks.co/ftx-closes-900m-series-b-round-valuing-exchange-at-18b/" target="_blank" rel="noreferrer noopener">raised $900 million</a> for its Series B round in July, valuing the company at $18 billion. CEO Sam Bankman-Fried has said that FTX.US is looking to get licensed where it can, noting that the fundraise would be used to ensure regulatory compliance.



FTX <a href="https://cms.blockworks.co/ftx-us-brings-crypto-derivatives-to-users-with-ledgerx-acquisition/" target="_blank" rel="noreferrer noopener">said last week</a> it is set to acquire the parent company of digital currency futures and options exchange <a href="https://www.ledgerx.com/" target="_blank" rel="noreferrer noopener">LedgerX</a> as a way to bring crypto derivatives to its US user base.



FTX was among the first in the crypto space to break into the sports world. It became the <a href="https://www.mlb.com/press-release/press-release-mlb-ftx-cryptocurrency-partnership" target="_blank" rel="noreferrer noopener">official cryptocurrency exchange brand</a> of Major League Baseball in June, as the league’s umpires have sported an FTX.US patch on their uniforms since the All-Star Game on July 13.



The company also finalized a 19-year, $135 million deal with Miami-Dade County in Florida earlier in the year to take over naming rights of the Miami Heat’s <a href="https://cms.blockworks.co/ftx-inks-135m-sponsorship-deal-for-miami-heat-arena/" target="_blank" rel="noreferrer noopener">stadium</a>.



Are you a UK or EU reader that cant get enough investor-focused content on digital assets?<a target="_blank" href="https://cms.blockworks.co/events/das-london/" rel="noreferrer noopener">Join us</a>&nbsp;in London on November 15th and 16th for the Digital Asset Summit (DAS) London. Use code ARTICLE for £75 off your ticket.&nbsp;<a target="_blank" href="https://cms.blockworks.co/events/das-london/" rel="noreferrer noopener">Buy it now</a>.