The relationship between sports companies, sporting events, and cryptocurrency have been deep and mutually beneficial. 2020 and the subsequent COVID-19 restrictions led leading sporting teams in the world to lose a lot of money. Similarly, big sporting brands also lost their share of the revenue from sales and events. To combat this situation, many sporting organizations have partnered with cryptocurrency exchanges and NFT marketplaces. NFT marketplaces, in particular, have been a go-to option for teams and clubs to host their digital exhibits. The newest addition to this list is sporting goods manufacturer and global giant Adidas. To give a boost to their business, they have decided to collaborate with Bored Ape Yacht Club, gmoney NFT, and PUNKS Comic. All three are big names within the cryptocurrency and NFT communities, and the collaboration should be beneficial for all parties involved.
Adidas has expressed its excitement and hope from the collaboration in an official statement. As of now, Bored Ape Yacht Club has over 1000. NFTs on the Ethereum network. They have also integrated Adidas’s iconic tracksuit and logo in their NFTs. Naturally, fans of Adidas are eager to get hold of these digital collectibles.
NFTs have changed the face of global transactions to a great extent. Instead of going through traditional digital and print marketing routes, companies are now collaborating with NFT marketplaces. Fans also benefit from it, since now they can buy exclusive and official NFTs straight from their favorite club or brand. In the future, rivals of Adidas like Nike and Puma might also follow suit.