SneakMart partners with StockX for its first Metakicks drop to bring sneaker NFTs to the Metaverse
Non-fungible token (NFT) was previously written off as a fad. Now, the demand for NFTs has soared as tech heavyweights like Visa and other big tech companies threw their hats into the ring. 2021 was the year of the NFT as collectors and traders spent $22 billion on NFTs, up from $100 million in 2020, according to the Guardian.
This year is also shaping out to be another blockbuster year as dozens of big brands have also jumped on the bandwagon for fear of missing out. In the last year alone, tech investors have poured billions into NFT and digital collectibles companies.
While the NFT space is still in its nascent stage, one particular area that’s getting a lot of consumers’ attention is digital collectibles. The appetite for digital collectibles was demonstrated back in January after NFT startup RTFKT sold 620 pairs of virtual sneakers for $3.1 million as NFTs in less than 5 minutes. The startup was later acquired by NIKE.
But one company at the cusp of the sneaker NFT revolution is Sneakmart, a French startup that’s redefining the boundaries of physical and digital value to serve its broad community of creators.
Sneakmart is the first platform dedicated to the Streetwear culture. With its sneaker NFTs, users can customize their virtual avatars and unlock various benefits in the digital world. The company plans to bring its Metakicks sneaker NFTs to the Metaverse this year.
Today, SneakMart announced it has partnered with the global leading streetwear marketplace StockX for its first Metakicks drop. As part of the partnership, StockX will become the official physical sneaker partner for the first Metakicks drop.
The first Metakicks drop will feature over $200,000 in physical sneaker prizes, with winners being able to choose their size and international delivery handled by StockX.
In addition, the upcoming Metakicks mystery boxes can help holders win one of the 625 pairs of physical sneakers. Models include the latest Jordan 1 High, Nike Dunk Low, Adidas Yeezy 350, and two pairs of Jordan 1 Dior. There are also two pairs of Jordan in collaboration with Travis Scott. Mystery box buyers have a 10% chance of winning a prominent physical sneaker.
International soccer players have taken note of the first Metakicks drops and will lend their creativity to the project. Participants include Didier Droga, Kinsley Coman, and Marco Verratti, who created a unique 1-of-1 edition of personalized Metakicks. Lucky owners of these Metakicks can gain other benefits, including access to signed items, VIP game access, or a meet-and-greet.
Sneakmart plans to unveil a series of 1-of-1 Metakicks created through collaborations with brands and Web3 communities. The first unique Metakicks is designed by Savoir Faire Paris, granting the NFT holder access to a Jordan 1 Off-White Coffee Latte pair.
The Metakicks mystery boxes will be sold through the Sneakmart website. A total of 6,250 boxes will be created on the Ethereum blockchain.
Meanwhile, Sneakmart also shared its vision for the Metaverse which involves tokenizing real-world sneakers on the blockchain. It is another strong example of merging the digital and physical worlds, enabling users to showcase their kicks in a growing online ecosystem. Moreover, the growing popularity and collectibility of sneakers confirm models by various brands hold a significant appeal.
Real sneakerheads want to get their hands on the Nike Air Jordan 1 high, although doing so is very tricky in the physical realm. That model is an example of how sneakers cultivated rarity through limited-edition releases. It has catapulted the sneakers market to a valuation of over $6 billion, with secondary market sales taking off in recent years.
Sneakers are incredibly compatible with non-fungible token technology. The recent popularity of NFTs has spawned a multi-billion dollar market where second-market sales are essential. Furthermore, NFTs will be a crucial cog in the Web3 machine, enabling fashion trends to take on a digital nature.
Sneakmart acknowledges this potential and will leverage the traction of its community-driven mobile app dedicated to streetwear. Furthermore, the team will internationalize its application, add unique features, and introduce new limited collections and long-term benefits for Metakicks owners.
The Sneakmart team established 15 unique 3D-animated sneaker designs, featuring a 3D animated background and various shapes, textures, materials, and colors. The 15 designs will be sold through Metakicks boxes and come in Rare, Super Rare, Epic, and legendary rarities.
Through these tokenized sneakers, Sneakmart aims to reach a growing global audience of sneaker collectors and MFT enthusiasts. The Metakicks NFTs will be usable in the Metaverse of the future and provide holders with access to new offers, derivative products, physical sneakers, etc.