When do we sell digital display windows?
NFTs are THE topic of conversation right now when it comes to funding and investing. An NFT - Non-Fungible Token - is proof of ownership of a digital asset.
Popular NFTs are often artwork, i.e. image files, but they can also stem from any other file type. The most expensive NFT collection in the world, ‘Bored Ape Yacht Club’, can fetch over $400,000. The trade is very popular among celebrities and influencers.
The US company StockX, which specializes in trading limited sneakers, has recognized the potential of the trend and expanded its platform with the trade of its own NFTs.
In the StockX case, the NFT is tied to a limited-edition product and serves as a digital certificate of authenticity and ownership history of the product.
So as the owner of a StockX NFT, you own not only the digital image of a sneaker but also the sneaker itself. If desired, the NFTs can be redeemed for the physical counterpart.
StockX shows once again that the trend has now arrived in the fashion and sneaker scene. They sell their digital sneakers exclusively via their own website. Right after the purchase, a digital proof of ownership of the sneaker is issued to the buyer. The exciting part is that the sneaker can increase in value. With a lucky hand, you can resell your token at three times its value. So trading the tokens here is particularly exciting and, with a little luck, also very profitable. 😉
Nike is also not missing out on the trend and has taken over the NFT collectable RFTKT at the end of 2021. RTFKT is known for online artwork of sneakers and is now designing digital artwork together with Nike.
Who knows, maybe we’ll be selling digital display windows soon! 😉