TL; DR
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The latest Nike x RTFKT sneakers are paired with an NFT.
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These “sneaker + NFT” combinations lay the foundation for a global sneaker marketplace, where sneakers are essentially traded on paper via NFTs.
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Paper trading would make this process a lot easier/faster (and the easier/faster something is, the more people will do it → the more people do it, the bigger the market becomes).
Full story
Gold is cool and all…
But have you ever tried to transport, store and secure a large quantity of it?
Yeah, neither. But we can imagine it would be a hassle.
That’s why paper trading exists: you essentially buy an IOU for a piece of gold (which is safely stored elsewhere) and then sell the IOU when you’re ready.
Never see the real gold.
And funnily enough, we think we’re about to see a similar universal system form in the sneaker market.
The latest Nike x RTFKT sneakers are paired with an NFT – which may feel a little gimmicky at first…
We have been wearing/collecting sneakers for decades without needing a digital certificate of ownership.
What’s nice about it is this:
These “sneaker + NFT” combinations lay the foundation for a global sneaker marketplace, where sneakers are essentially traded on paper via NFTs.
The more we think about it, the more sense it makes – because there’s already a global market of over $10 billion built around sneaker resale.
The only problem is: Each transaction requires both parties to organize the transportation, storage and security of the product.
Paper trading would make this process a lot easier/faster.
(And the easier/faster something is, the more people will do it → the more people do it, the bigger the market becomes).
Neat!