StockX comes with their own exclusive NFTs. The Non Fungible Tokens will be exclusively available and sold on StockX. Having these online works of art is very popular these days and StockX is now participating as well. You can already buy the first sneakers in NFT form.
The world of NFTs
For those who are not yet familiar with the world of NFTs, NFT is short for Non Fungible Token. A NFT is, as it were, a digital proof that you are the owner of this piece of data. NFTs come in the form of works of art or, in this case, sneakers. You cannot touch or hold the tokens, but you can prove that the digital works are yours and only yours.
Since 2021, trading in NFTs has become very popular. Rappers and artists are joining the trend and coming up with their own tokens. The NFT collection 'Bored Ape Yacht Club' has also become a very big player in a short time and is known for their works of cartoon-like monkeys.
These tokens are selling so fast that rapper Eminem paid 400 thousand dollars for them. The rapper Gunna also joined the trend and paid 300 thousand dollars for a tattoo of a Bored Ape Yacht Club NFT. At the beginning of January 2022, Takeoff from hip-hop group Migos also put down thousands of euros for a work from the NFT collection.
In a short space of time, trading in Non Fungible Tokens has really taken off. Nike also played along with the trend and acquired NFT collectibles RFTKT at the end of December 2021. RTFKT is known for their online artworks of sneakers and is now designing digital artwork together with Nike.
Now StockX is coming out with their own NFTs.
The StockX NFTs can be bought and sold exclusively on the StockX site. The digital works are linked to a real-life sneaker. When you invest in an NFT, you buy an online proof of the sneaker in question. From this, you get the exclusive data that can prove that you are the owner of the Non Fungible Token.
The tokens are transferred immediately after payment. The interesting part of having an NFT is trading it. The tokens can rise in price and your NFT can suddenly triple in value in a short time. The decisive factor is to flip your NFT in time.
Having a StockX NFT
Each Non Fungible Token is minted in the blockchain. This gives the owners the opportunity to invest in their token and in the current culture. The owners of the StockX NFTs can also get exclusive access to StockX releases, promotions and events.
Currently you can buy and sell NFTs of different sneakers on StockX. Models like the Nike Dunk Ben & Jerrys 'Chunky Dunky' and the adidas Forum Low in collaboration with Bad Bunny are already available to buy as tokens.
You can also register on the StockX site to stay informed about the latest NFTs. In the future StockX wants to expand their offer of NFTs.