Sneakmart’s Metakicks Digitizes Limited-Edition Sneakers As NFTs Through An Upcoming Mystery Box Drop
January 24 2022 - 6:30AM
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Finding mainstream use cases for non-fungible tokens is the next
objective to take NFTs to the masses. French startup Sneakmart,
with its dedication to streetwear, is tapping into the sneaker
collector market. The company will bring limited-edition sneaker
NFTs to collectors worldwide through mystery sneaker boxes.
Sneakmart Modernizes Sneaker Collecting One of the biggest trends
in recent years is the acquisition of limited-edition sneakers and
reselling them for a higher value. It is a lucrative business that
can yield returns of up to 10x the initial purchase price.
Sneakerheads love collecting, wearing, and showing off their
footwear portfolio, yet it is challenging to get in on these rare
drops as a newcomer. Sneakers represent a resale business of over
$6 billion annually despite that latter aspect. It is a growing
market with rising prices across secondary markets, confirming the
demand for these shoes isn’t slowing down yet. However, Sneakmart
sees an opportunity to enhance this market through NFT technology.
Non-fungible tokens are popular across secondary markets and can
often fetch a more than fair price. Sneakmart has established its
presence in the sneaker space through a mobile application
dedicated to streetwear. That expertise has given the company
insights into how buying physical pairs isn’t too different from
acquiring digital pairs to collect and resell. Moreover, there is
the recent acquisition of RTFKT by Nike, confirming manufacturers’
look toward digital sneakers and accessories as NFTs. The Metakicks
Initiative To further pursue the options in the digital world,
Sneakmart launched Metakicks, an NFT collection of sneakers
distributed as mystery boxes. When users acquire a Metakicks
mystery box, they won’t know which sneaker pair they will get.
Users can open the box and use their NFTs in the metaverse or
resell the box on the secondary market. A total of 6,250 Metakicks
boxes will be made available come February 2022. Sneakmart
Co-founder and CEO Anthony Debrandt adds: “Sneaker addicts love to
collect and wear a lot of sneakers. Everyone loves sneakers today,
everyone wears them. With Metakicks, we want to give the
opportunity to start collecting digital sneakers through unique
designs.” Every pair of sneakers adheres to one of the 15 unique 3D
animated sneaker designs. In addition, there are four tiers of
rarity: epic, super rare, rare, and normal, each with different
quantities. Some of the designs will feature unique editions
featuring celebrities, adding an extra layer of excitement and
surprise to these mystery boxes. Furthermore, buyers of the mystery
box have a 10% chance of winning a physical pair of limited edition
sneakers. Those odds are over 20% as high as trying to participate
in a physical sneaker drop. Metakicks is also getting a series of
1-of-1 pairs through collaborations with brands, such as Savoir
Fair Paris. It is an excellent way of bridging the gap between
physical and digital sneakers, NFTs, and collectibles.
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