Adidas Joins Nike in Metaverse for ‘Wear-to-Earn’ Model
Bored Ape Yacht Club, gmoney NFT and PUNKS Comic collaborated with Adidas (OTC 🙂 to launch into the metaverse on December 2, 2021. Converse’s involvement would allow the company to continue to grow in the virtual world.
After purchasing an NFT at the Bored Ape Yacht Club, Adidas became the latest well-known brand to enter the metaverse. As of this writing, Adidas had paid 46 ETH, or $ 156,000, for a digital artwork of this nature. When it comes to NFT projects, The Board Apes is one of the best. The Board Ape NFT project generated over $ 1.3 billion in secondary trading activity with the introduction of 10,000 separate NFTs in April 2021.
Leading companies like Universal Music Group (AS 🙂 and other prominent celebrities own the Board Ape Yacht Club initiative or are affiliated with the project. Owning a Board Ape allows collectors to enjoy the appearance of the avatar and engage in social interactions with other Metaverse users. The sportswear brand also announced its goal of promoting cutting-edge metaverse concepts that allow virtual residents to develop and express their most creative opinions while being authentic.
Also read: eBay (NASDAQ 🙂 considers crypto payments and NFT sales
Adidas has worked hard to establish itself as an important participant in the metaverse prior to this announcement. Earlier this year, the company announced a cooperation with Coinbase (NASDAQ :), which launched an NFT marketplace. Adidas also owns “Adidas” on the blockchain-based virtual gaming environment The Sandbox, a virtual field with Adidas. It will be possible to build a virtual experience in the space of 144 plots.
Adidas’ ultimate goal remains unknown. However, these initiatives indicate that the firm is betting on the success of the Metaverse. Using this, the clothing company would market its actual products as virtual items. These developments mean that the virtual world will offer new perspectives and possibilities for connecting with customers and for advertising, selling and owning unique items.
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