StockX Launches NFTs
Sneakers in the Metaverse
"StockX was built on stock market mechanics to provide buyers with seamless access to in-demand products and unlock economic opportunity for sellers." – Scott Cutler, StockX CEO
We're officially seeing the advent of the footwear industry and sneaker culture in Web 3.0. One of the major storylines we previewed for 2022 was just how brands will utilize the Metaverse; with StockX officially entering the fray. On Tuesday, StockX introduced NFTs to the platform which already was ahead of the curve a decade ago under their previous alias, "Campless". These NFTs will be exclusive to StockX as their own brand of "Vault NFTs". The digital variant is tied to a physical item in stock at StockX's facilities and minted on the Ethereum blockchain as ERC-1155 tokens; therefore as owner you will have both the real and digital item. Benefits to the Vault NFT will reduce time spent in the selling, buying, authentication and delivery process – and eliminates the fees associated with authentication and shipping. Additionally, Vault NFT owners may receive exclusive access to StockX releases, promotions and events as part of ownership.
To learn more about StockX entering the Metaverse and the current stock of in the Vault, follow the link.