Adidas Announces Partnership with Crypto Exchange Coinbase
Adidas original, which manufactures sneakers and footwear primarily, has announced a partnership with Coinbase. The nature of this partnership or the elements involved on both ends are not disclosed publicly yet. But one thing can be said for sure that it is not the first time Adidas has gone into a crypto-oriented partnership as it has done so before. The very reason for Adidas to announce such a partnership with the most competitive crypto exchange, which is Coinbase, might have to do with the increasing array of crypto adoption. Business institutions are doing it, States and countries are doing it, so why not a very promising and wildly accepted footwear brand which is Adidas, should do the same?
Coinbase has undergone multiple partnerships over the last few months in terms of non-fungible tokens, Bitcoin futures ETF, and various other such rollouts with multiple finance organizations and enterprises; Adidas originals is nothing but a new score for Coinbase. The whole thing was announced on Twitter, where Adidas hinted that it would be going into a partnership with Coinbase, to which Coinbase retweeted, welcoming Adidas warmly.
First Crypto Deal of Adidas
It is still unknown what the original purpose or event of this collaboration might be; it could be a new range of non-fungible tokens on which both will be working, or it could be a payment system that Coinbase will help Adidas to develop and regulate. But it is most likely to be the non-fungible tokens than the latter. The NFT space has surely seen some great turnout over the past few months, but there are regulatory challenges that are being added to the mix.
The NFT space, despite being new and wildly adopted on a global scale, lacks a proper regulatory framework for multiple parties to engage or deal with. Despite these regulatory hurdles, the NFT space is doing pretty great, and more information will be available once the content of this partnership between Adidas and Coinbase is made clear. At the moment, it is nothing but a guessing game, and one can’t have too many guesses and then randomly get it right; fans would just have to wait it out.