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Home»Web 3»Sneakers are the new gold
Web 3

Sneakers are the new gold

2023-11-22No Comments2 Mins Read
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TL; DR

  • The latest Nike x RTFKT sneakers are paired with an NFT.

  • These “sneaker + NFT” combinations lay the foundation for a global sneaker marketplace, where sneakers are essentially traded on paper via NFTs.

  • 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.

See also  Polygon's $85 million, Big Brained idea

(And the easier/faster something is, the more people will do it → the more people do it, the bigger the market becomes).

Neat!

Source link

Gold sneakers
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