Coinbase acquired BRD, a mobile crypto wallet startup. Coinbase has also signed an obscure deal with Adidas to acquire the mobile crypto wallet startup BRD. Aaron Voisine and Adam Traidman, co-founders of BRD, announced. Wednesday that the BRD Team will resume their mission at Coinbase, America’s largest crypto exchange. They will work to bring the power decentralization to more people around the world.
Coinbase’s official Twitter account confirmed the news. It said that the BRD team would be joining Coinbase Wallet to accelerate web3 adoption. Therefore, this team has deep expertise in crypto wallet self-custody, which will allow Wallet to enable more people to securely and safely access the decentralized crypto world.
BRD was originally a mobile cryptocurrency wallet in 2014. BRD was originally a mobile crypto wallet in 2014. Allows BRD users to trade, buy, sell, or swap crypto assets or digital assets.
BRD founders stated that users will be able to migrate their funds to Coinbase Wallet in the future. This would include a “special gift” for them. And then, they added that “Nothing will change in the BRD wallet App and your funds are safe, secure, and as always, they are safe and sound.”
The BRD app had just under half a million active monthly users at the start of 2020. The pandemic prompted the app to gain more than six million users. The app claims to now have more than 10 million users from all over the globe.
Coinbase Deal with Adidas
On Thursday, Adidas Originals, a giant German sportswear brand, announced a partnership agreement with Coinbase. “We have partnered with Coinbase. Adidas Originals tweeted, “Probably nothing.” Coinbase confirm the news and said that “Deal with Adidas Originals” was their official statement. Partner, welcome to the party!
Both Adidas and Coinbase did not disclose any further information about the partnership. Adidas had tweeted with crypto bent a few days before the partnership. The company stated, “AdiVerse anyone?”
Coinbase spokesperson stated that the agreement is a positive development for the crypto industry, but did not provide more details. It is encouraging to see more companies entering the crypto economy. A spokesperson for The Block said that they look forward to all the opportunities for brands in this expanding space.
The deal is notable because it comes just days after Adidas Originals purchased a 144-parcel area in The Sandbox’s metaverse. They stated that they are “headed to the Sandbox with the first immersive and always on virtual experience.”
Nikeland is a virtual space created by another sportswear brand. Players can create, connect, share experiences and compete with avatars that can be outfitted with virtual Nike products.
This is all part of a wider trend in which tech giants are investing heavily in the metaverse. However, KuCoin set aside $100 million to support metaverse projects this month, Time Magazine collaborated with Galaxy Digital, and Microsoft shared its metaverse plans to Mesh.