Last edited: Dec 3, 2021

On December 2^nd, Adidas announced that, in collaboration with PUNKS Comic, gmoney NFT, and Bored Ape Yacht Club, it will be entering the Metaverse.

The developers behind the Metaverse initiative said the following in an article posted on the Adidas mobile app:

“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.”

In various tweets as an effort to advertise Adidas’s initiative, a piece of Bored Ape Yacht Club NFT has been redrawn to advertise the iconic three-stripes Adidas tracksuit jacket, with Adidas’s logo featured on the right and gmoney NFT, PUNKS comic, and BAYC logos on the left.

Adidas Originals’ new profile picture on Twitter

This move from Adidas should not come as a surprise to people who have been vehemently following news regarding NFTs and metaverse, since Nike had been making moves prior to Adidas’s announcement.

Nike filed trademark applications on October 27^th for the intent to make and sell virtual Nike-branded sneakers and apparel, including “Nike,” the famous slogan “Just Do It,” and the swoosh logo.

In addition to the trademark applications, Nike is also expanding their office roles for virtual sneakers design, including job titles such as virtual material designer of footwear and other virtual design roles.

Nike also partnered with Roblox to create a virtual world called Nikeland on Roblox’s online gaming platform on November 18^th, marking the company’s first official foray into the Metaverse. It is intended for customers to try out virtual products, and potentially host in-play moments that emulate global sporting events, such as the World Cup, the Super Bowl, or an NBA playoffs series. It will be free to use currently, but as Nike expands its services and offerings in the Metaverse it may look to monetize the virtual world.

As NFTs and metaverse become the headline frontrunners for the crypto world, it is expected for coins related to NFTs, especially Ethereum. Here is a chart of how Ethereum has been performing over the last month:

ETH price chart over the past month (daily intervals)