, a startup that creates NFTs of sneakers and other collectibles. Early NFT drops have been successful: Both Under Armour and Adidas’ debut NFTs last month sold out quickly, with Adidas selling $23 million worth within hours. Those that own Adidas’ “Into the Metaverse” NFTs, which cost roughly $765 at debut, are now selling them for more than $2,500 on NFT marketplace OpenSea.
NFT skeptics abound but, when it comes to a highly sought, expensive item, a digital one stored on the blockchain is far easier to authenticate, transfer and to sell than a shoe or a painting. Perhaps more importantly, while brands don’t get a cut every time a sneaker is resold, they can do so with NFTs because royalties can be baked into a blockchain.
There seems to be a natural demographic overlap between typically young sneakerheads and those interested in NFTs. In a survey conducted in April by CivicScience, those between the ages of 18 and 24 displayed the most familiarity with the NFT space, with 14% saying they had invested in NFTs and 18% saying they were interested in doing so. But that overlap cuts both ways: Real-world budgets are limited and the virtual world might merely cannibalize sneaker demand.
Virtual sneakers won’t weigh apparel brands down with inventory or supply chain snags. They do come with other risks, though. Some NFTs are sold on energy-intensive blockchains that charge wildly varying “” for each transaction. NFT buyers might also face surprise tax liabilities in the future. And digitally savvy crowds also are harsh critics: As much as a great product can garner hype, a shabby-looking one can quickly get “canceled.
Nike rules the world of physical sneakers, but that doesn’t guarantee digital dominance where companies like Yuga Labs, the creator behind the top-selling Bored Ape Yacht Club NFT collection, rule the roost. It isn’t enough to sell an exact replica of the physical sneaker, hoodie or handbag in the virtual world, says Akash Nigam, chief executive officer of Genies, an avatar technology company whose platform allows users to dress their avatars with digital wearables.
JinjLee There is a NFT project which is trying to save the world by planting tree. You should participate:
JinjLee You should get some of these NFT:
JinjLee Corporate takeover leaving behind a soulless carcass...once again.
What!! Maybe we CAN sell the Brooklyn Bridge, virtually.
Sneakerheads are really not into this. The only ones are scalpers, etc. trying to make money off it. There's a difference. 🤔
POV: you bought a fake virtual Nike shoe online for 100 million digital gold doubloons
This is something I will never understand
alex_dreyfus 'MarsX will make you rich! Don't miss this gem 💎💎 MarsXToken' BNB
This is a huge catch
this mass mental disability will disappear sooner than in 5 years
I hate it here
Eu disse que vocês morrerão em seus pecados se vocês não crerem que Eu Sou, de fato morrerão em seus pecados'.Eu Sou o que vive;estive morto, mas eis que estou vivo por toda a eternidade! 'Eu sou o caminho, a verdade e a vida. Ninguém vem ao Pai,a não ser por mim. EU SOU O ÚLTIMO