Sneakmart has a vision of associating sneakers with non-fungible token technology (NFTs). The France-based community driven marketplace for all things streetwear related said in a press release it is teaming up with StockX for its new Metakicks sneaker.
The sneaker market
NBA legend Michael Jordan is credited with transforming the sneaker market to the general population. Originally launched in 1984, Air Jordan sneakers evolved to become one of the most sought after shoes in the world today.
In fact, the primary sneaker market is valued at around $6 billion while secondary market platforms have seen a surge in activity in recent years.
While traditionally not associated with the digital universe, Sneakmart wants to change that perception. The company said in its press release that sneakers are “incredibly compatible” with NFT technology. It notes that NFTs will act as a “crucial cog” within Web3 as fashion trends shift to take on a “digital nature.”
To address this change, Sneakmart is launching 15 3D-animated sneaker NFT designs. They feature an animated background and will be sold through Metakicks boxes. The company said it will sell a combination of Rare, Super Rare, Epid, and legendary rarities.
According to the press release, a total of 6,250 boxes will be created and live on the Ethereum blockchain.
A global audience
Although based in Europe, Sneakmart has its eyes set on the global market of both sneaker and NFT collectors. The Metakicks NFTs will live within the Metaverse of the future and give holders access to new offers, derivative products, physical sneakers, among much more.
To help with its vision, Sneakmart tapped StockX, originally dubbed as the “stock market of sneakers” to act as its selling partner. To celebrate the launch, Sneakmart’s first Metakicks drop will include $200,000 in physical sneaker prizes to be handled by StockX.
Sneakmart will introduce soon a series of 1-of-1 Metakicks that were created through brands and Web3 communities. The first Metakicks is designed by Savoir Faire Paris with the owner gaining access to a Jordan 1 Off-White Coffee Latte pair.
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