Adidas partners with cryptocurrency platform Coinbase

Adidas has revealed it has partnered with cryptocurrency trading platform Coinbase in a strange Twitter announcement.

The sportswear giant ambiguously tweeted: “We’ve partnered with Coinbase. Probably nothing.”

The details of the tie up remain unclear, however many believe that Adidas could be considering enabling crypto payments.

While details of the partnership remain unclear, it has prompted speculation that the sportswear brand could be considering enabling crypto payments.

The move could also be linked to Adidas’ plans to create its own metaverse to rival Nike and Meta, as part of a partnership with The Sandbox.

The Sandbox describes itself as an online world “where players can play, build, own and monetise their virtual experiences”.

READ MORE: Ocado among over 40 retailers to offer cash back in Bitcoin

The company has its own cryptocurrency which it uses for transactions within its own ecosystem, begging speculation that Adidas’ partnership with Coinbase was a result of the the initial tie up with The Sandbox.

The news follows Nike’s announcement it has built its own metaverse on online gaming platform Roblox.

Sportswear retailer Reebok has also embraced cryptocurrencies, joining Bitcoin rewards platform Lolli, which allows users to earn up to six per cent back in Bitcoin on every order when shoppers install the app or browser extension.

Lolli also works with Microsoft, Sephora, Nuke and Ebay.

Cryptocurrencies are fast becoming tools in the world of retail and the financial landscape, with retailers increasingly looking to crypto coins to offer customers different ways of paying.

El Salvador recently announced it was making Bitcoin legal tender in September, the first nation to do so.

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