TL;DR
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The latest Nike x RTFKT sneakers come paired with an NFT.
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These ‘sneaker + NFT’ combinations lay the groundwork for a global sneaker marketplace, where the sneakers are essentially paper traded via NFTs.
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Paper trading would make this process a whole lot easier/faster (and the easier/faster something is, the more people will do it → the more people do it, the larger the market becomes).
Full Story
Gold is cool and all…
But have you ever tried to transport, store, and secure a large amount of it?
Yeah, neither. But we imagine it’d be a hassle.
That’s why paper trading exists: you essentially buy an IOU for a chunk of gold (which is stored securely elsewhere), then sell the IOU when you’re done.
Never to see the actual gold.
And weirdly enough, we think we’re about to see a similar universal system form in the sneaker market.
The latest Nike x RTFKT sneakers come paired with an NFT – which, on the surface, might feel a little gimmicky…
We’ve been wearing/collecting sneakers for decades without the need for a digital certificate of ownership.
What’s cool about it, is this:
These ‘sneaker + NFT’ combinations lay the groundwork for a global sneaker marketplace, where the sneakers are essentially paper traded via NFTs.
The more we think about it, the more it makes sense – because there’s already a $10B+ global market built around sneaker reselling.
Only problem is: every trade requires both parties to organize the transport, storage, and security of the product.
Paper trading would make this process a whole lot easier/faster.
(And the easier/faster something is, the more people will do it → the more people do it, the larger the market becomes).
Neat!
