Sneakmart’s Metakicks Digitizes Limited-Edition Sneakers As NFTs Through An Upcoming Mystery Box Drop

Finding mainstream use cases for non-fungible tokens is the next objective to take NFTs to the masses. French startup Sneakmart, with its dedication to streetwear, is tapping into the sneaker collector market. The company will bring limited-edition sneaker NFTs to collectors worldwide through mystery sneaker boxes. Sneakmart Modernizes Sneaker Collecting One of the biggest trends in recent years is the acquisition of limited-edition sneakers and reselling them for a higher value. It is a lucrative business that can yield returns of up to 10x the initial purchase price. Sneakerheads love collecting, wearing, and showing off their footwear portfolio, yet it is challenging to get in on these rare drops as a newcomer. Sneakers represent a resale business of over $6 billion annually despite that latter aspect. It is a growing market with rising prices across secondary markets, confirming the demand for these shoes isn’t slowing down yet. However, Sneakmart sees an opportunity to enhance this market through NFT technology. Non-fungible tokens are popular across secondary markets and can often fetch a more than fair price. Sneakmart has established its presence in the sneaker space through a mobile application dedicated to streetwear. That expertise has given the company insights into how buying physical pairs isn’t too different from acquiring digital pairs to collect and resell. Moreover, there is the recent acquisition...