Being a sneaker head I was thinking of the crossover potential for crypto, sneaker re-selling and collecting has been growing in recent years and some sneakers have now become valuable assets, such these Nike Air Mags valued at almost $20,000.
There are sneaker exchanges online, the most famous being StockX, where people can buy and sell sneakers through a bidding process, authentication is provided by the exchange which acts as a middle man. The buyer must take delivery of the item and send back to the exchange if they wish to re-sell.
If The Shoe Fits?
Due to the nature of the transaction there is a no returns policy if you change your mind or choose the wrong size, there is also no option to swap for another pair, you're only choice is to send the trainers back to re-sell on the exchange, which can take a long time.
Crypto allows the tokenisation of real world assets such as sneakers which could be traded instantly on an exchange without the sneakers even leaving storage!
A user would have the option to hold their assets, trade for another pair or take delivery of the item.
How the sneaker swap exchange works
-A user sends a pair of sneakers to the exchange where they are authenticated, assigned a token and listed.
-The user can then browse all the listings and bid for an item with their token.
-If there is a match the sneakers are swapped and the tokens change wallets.
The user can then choose to hold their new sneaker token, make another swap or take delivery of the sneakers.
Just For Kicks
The sneaker re-sell scene is at risk of becoming a cash grab that leaves real sneaker heads having to pay more, the swap exchange would allow collectors and enthusiasts to trade sneakers for sneakers, it would take the fiat out of footwear and let enthusiasts swap their way to the ultimate pair of kicks.
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