Technical foul: Chinese traders in online sneaker market punish NBA after HK controversy

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On Oct. 4, a Chinese trader noticed a sharp drop in the price of crypto tokens backed by Nike’s Air Jordan sneakers on a US-based exchange after the general manager of the NBA’s Houston Rockets tweeted support for the protests in Hong Kong.

A pair of Nike’s Air Force sneakers with a NBA logo is seen display at a Nike store in Beijing, China October 10, 2019.

“But it’s clear sneaker speculators were pulling money out of the market” after the Chinese government and netizens responded angrily to the comment by Houston Rockets general manager Daryl Morey, he said.Chinese state media started to attack him, the Houston Rockets and the National Basketball Association , accusing them of endorsing violence and peddling a “secessionist pipe dream.”

It is also possible on 55.com to trade tokens backed by other designer merchandise such as hoodies by Supreme, a US clothing brand under the Carlyle Group. Last week, Houston Rockets sneakers and other merchandise were pulled from several Nike stores in major Chinese cities.

 

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Go on, tease each other.. stir up a war..

China is such a huge market that even the NBA can’t go up against. Business over principle.

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