Adidas wades into the metaverse in partnership with Bored Ape Yacht Club and other NFT communities

• Adidas is entering the metaverse in partnerships with several NFT communities.
• These includes Bored Ape Yacht Club, Punks Comic, and Gmoney.
• The brand changed its Twitter profile picture to a signature Bored Ape cartoon wearing Adidas.

Adidas is the latest brand name entering the metaverse.

The company is partnering with prominent figures in the space including the Bored Ape Yacht Club founder, Pixel Vault's NFT comics Punks Comic, and crypto investor and NFT collector Gmoney, according to a tweet.

Included in the announcement is a link to the Adidas website and a 29-second clip showing avatars inspired by Gmoney, an original character in Punks Comic, and the company's new Bored Ape character.

"The metaverse is currently one of the most exciting developments in digital, making it an interesting platform for Adidas," the company told Insider via email. "We will be sure to come back to you and share details in due course."

Little is known at this point what the sportswear brand is up to. The metaverse tab on its website simply shows a barcode, which prompts users to download the Adidas app. In the app, the company presents the three NFT pioneers with more in-depth introductions.

"This fall, Adidas, known for celebrating ideas at the bleeding edge of originality, it settling in at the frontier of creativity: The metaverse," its website reads. "Our goal there? To see every one of its inhabitants thrive."

The three collaborators took to their respective social media accounts to tease the collaboration.

Adidas changed its Twitter profile picture to a signature Bored Ape cartoon wearing Adidas Originals clothing, which displays Pixel Vault's Punks Comic logo and Gmoney's iconography.

The character is Bored Ape Yacht Club NFT #8774, which Adidas purchased in September for 46 ether, or around $156,000, according to NFT marketplace OpenSea.

Bored Ape Yacht Club is a collection of 10,000 unique ape NFTs that live on the ethereum blockchain. High-profile figures such as NBA superstar Stephen Curry have snapped up pieces from the collection. Owning a Bored Ape NFT doubles as an exclusive membership pass to the community's various activities.

Separately, on November 24, Adidas revealed it partnered with Coinbase, the largest cryptocurrency exchange in the US, via tweet.

"We've partnered with Coinbase. Probably nothing," the company said, employing a tongue-in-cheek method the crypto community often uses to tease big announcements.