StockX is selling sneakers NFTs

On Tuesday, Scott Cutler, CEO of StockX, announced the launch of a new service, "VaultNFTs", a new feature with which customers can invest in non-fungible tokens (NFTs) linked to physical products such as sneakers, as well as a way for users to unlock new trading opportunities. After the announcement of Nike, which just last month completed the acquisition of RTFKT Studios, creators of virtual and collectible sneakers, combining fashion and gaming, StockX has literally revolutionized the world of buying and selling sneakers, streetwear products and collectibles by expanding into Metaverse with new service temporarily launched in the United States, but soon to be made available worldwide.

The online marketplace that has literally revolutionized the world of buying and selling sneakers, streetwear products and collectibles has linked NFTs to physical products, in this case a sneaker, which enthusiasts can buy, sell and exchange using blockchain technology to certify their authenticity. In addition to the token, the owners of the StockX NFTs will also own the physical sneaker associated with it with the advantage that, should they sell it, they will not have to worry about costs and shipping times. Each shoe associated with the NFTs released to date will in fact be kept within the StockX facility, where it will be kept until the owner of the non-fungible token decides to request it.

Users can trade sneakers without ever owning them. According to their roadmap, StockX is planning to expand into new technologies, in the wake of the fevered frenzy that has led many brands to invest in the Web 3. A boon for the company that is looking to go public and that in April it declared to have been valued at 3.8 billion dollars.