German multinational corporation, Adidas has recently announced its acquisition of a Bored Ape Yacht Club NFT and collaboration with the creators of Bored Ape, Yuga Labs, and others in the space to enter the Metaverse, a virtual world where users interact in shared 3D worlds.

On December 2, Adidas announced it is entering blockchain technology as well as Metaverse collectibles in a big way. On Twitter, the company announced its partnership with cryptocurrency investor Gmoney, as well as with the Bored Ape Yacht Club NFT project.

“Today we leap Into The Metaverse with [Bored Ape Yacht Club], [Gmoney] & [Punks Comic]. It’s time to enter a world of limitless possibilities,” Adidas tweeted on Thursday. The tweet received over 8,000 likes and 4,000 retweets.

Adidas has set a cartoonised image of Bored Ape as its Twitter picture, in which the monkey can be seen wearing an Adidas track jacket with Punks Comic and Gmoney logos on it.

The announcement includes a link to Adidas' website and a 29-second video clip featuring the company's new Bored Ape character and an avatar inspired by Gmoney, an original character from Punks Comic.

Three apes from outer space can be seen approaching the Earth and landing on a Metaverse land styled like Adidas's logo in a 29-second video clip posted by the German shoe company.

There is little information available on what Adidas is doing at this time. To learn more about their NFT pioneers, users are asked to download the app from the Metaverse tab on its website.

The Bored Ape Yacht Club is a unique collection of 10,000 ape NFTs that exist on the Ethereum blockchain. Sports stars, such as Stephen Curry, have already purchased pieces from the collection.

Adidas recently announced a partnership with Coinbase, the largest cryptocurrency exchange in the United States.

Pavan A

CBW - External Analyst

INDIA