• Adidas has recently announced a new partnership with Coinbase and Metaverse gaming project The Sandbox.
  • The sportswear apparel firm appears to be dabbling in the Metaverse and NFTs.
  • SAND token rallied 50% on the Adidas announcement, setting a new all-time high at $8.

The well-known sports apparel company Adidas recently revealed a new partnership with Coinbase, calling it “probably nothing.” The German sportswear giant could be taking one step closer to accepting digital asset payments and an initial step into “metaverse apparel.”

Adidas enters the Metaverse

Adidas announced its partnership with Coinbase on Twitter, adding that it is “probably nothing.” The sportswear giant has revealed little to no details so far, but it appears that the firm has taken a major step forward into the cryptocurrency and blockchain industry.

Speculation has emerged that Adidas could be partnering to enable crypto payments for the sportswear firm, bringing a potential digital asset payment integration to the Adidas ecosystem.

Recently, virtual Metaverse project Sandbox tweeted at Adidas, linking to a 144-parcel Adidas Original space on its platform. Sandbox suggested an arrangement for the two entities to “design their future together.” 

SAND, the native cryptocurrency of The Sandbox, rallied after Adidas tweeted that it would be developing an “adiVerse” with the Metaverse platform. The sportswear behemoth even purchased a chunk of land on The Sandbox.

While Adidas could be dabbling in the non-fungible token (NFT) industry, the move would follow its rival Nike, which aims to bring its sneakers in the Metaverse.

Nike intends to sell digital products in the Metaverse, following years of research into tools that could enable the firm to engage in business in the Metaverse. The sports apparel giant secured a patent for “CryptoKicks” back in 2019. 

The Sandbox token eyes a 57% ascent

The Sandbox token surged over 600% after Facebook announced its name change to Meta in October. The gaming platform reached a new all-time high on November 24 at $8, as the partnership with Adidas also fueled bullish sentiment for the token.

The Sandbox token broke out of the upper boundary of the ascending parallel channel on the 12-hour chart, putting a 116% rally on the radar, toward $11.76, coinciding with the 161.8% Fibonacci retracement level.

Before SAND is able to reach the optimistic target, resistance will emerge at the 127.2% Fibonacci retracement level at $9.68 as a test for the bulls.

SANDUSDT

SAND/USDT 12-hour chart

If a sell-off occurs, the first line of defense for SAND is at the 78.6% Fibonacci retracement level at $6.75, then at the topside trend line of the parallel channel at $5.37. Additional support will appear at the 21 twelve-hour Simple Moving Average (SMA) at $4.50.


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Solana Price Forecast: SOL flashes bearish signals, risks double-digit crash

Solana Price Forecast: SOL flashes bearish signals, risks double-digit crash

Solana (SOL) price shows early signs of a potential breakdown as it trades lower at $165.40 on Monday. SOL is approaching a key support level that could determine its next major move. Technical indicators flash red, and bearish sentiment intensifies, with short positions hitting a monthly high.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple: BTC, ETH and XRP breakout or fakeout? Momentum tools flash weakness

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple: BTC, ETH and XRP breakout or fakeout? Momentum tools flash weakness

Bitcoin (BTC) trades slightly lower on Monday after breaking above key resistance at $105,000 on Sunday, raising concerns of a potential bull trap. Meanwhile, Ethereum (ETH) and Ripple (XRP) hold near crucial support levels.

BONK price slides despite partnership with DeFi Development Corp to launch Solana validator

BONK price slides despite partnership with DeFi Development Corp to launch Solana validator

BONK declined 4% on Friday despite an announcement from DeFi Development Corporation that it has entered a validator partnership with the Solana meme coin to expand its business and grow its SOL Per Share value.

Ethereum Price Forecast: ETH investors resume buying after intense profit-taking

Ethereum Price Forecast: ETH investors resume buying after intense profit-taking

Ethereum (ETH) saw a 2% gain on Friday, with investors, particularly those in the whale cluster, initiating a 230,000 ETH exchange net outflow.

Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand

Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand

Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP