• Loading stock data...
Friday, December 13, 2024

StockX to Create NFTs Tied to Sneakers

  • StockX plans to launch a service allowing consumers to buy and sell NFTs that are tied to physical sneakers.
  • The service will open a new stream of revenue.
StockX-NFT-Sneakers
StockX/Design: Alex Brooks

StockX, an online sneaker and streetwear reseller, is planning to launch a service allowing consumers to buy and sell NFTs that are linked to physical sneakers from major sports brands. 

Known for selling gaming hardware, trading cards, and other collectibles, StockX will launch Vault NFTs to open a new stream of revenue. 

  • Consumers will be able to purchase digital sneakers from brands like Nike and Adidas.
  • The purchase of an NFT will accompany a physical version of the corresponding sneaker.
  • StockX will ship consumers their physical sneakers at a time of their choosing. 

StockX is preparing to go public in the first half of this year. The company is reportedly working with Morgan Stanley and Goldman Sachs to facilitate its transition to the public market. 

The Collectibles Boom 

In April 2021, the resale platform was valued at $3.8 billion, a 35% increase compared to the valuation it received in December 2020 following a $275 million Series E funding round.

Despite the growth, attributed to the surge in popularity of collectibles during the pandemic, StockX has emerging competition in a market valued at more than $372 billion.

In another collectibles blockbuster earlier this month, Fanatics agreed to purchase Topps in a deal valued at $500 million. The company’s trading card business raised $350 million at a $10.4 billion valuation last October.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Houston Texans quarterback C.J. Stroud (7) walks to the locker room after the game of an NFL football matchup Sunday, Dec. 1, 2024 at EverBank Stadium in Jacksonville, Fla. The Texans held off the Jaguars 23-20.

NFL, Nike Extend Uniform, Apparel Partnership Through 2038

Financial terms of the extension were not disclosed.
Sponsored

Racing Forward: How SailGP is Redefining High-Performance Sailing and Championing Gender Equality

The most exciting racing on water is making waves by rewriting the narrative of what’s possible for women in high-performance sports.

A’s Vegas Ballpark Cost Rises to $1.75B, but John Fisher Can Afford..

Additional amenities and rising construction costs create a new price tag.
Feb 11, 2024; Paradise, Nevada, USA; Elon Musk looks on before Super Bowl LVIII between the San Francisco 49ers and the Kansas City Chiefs at Allegiant Stadium.

Can Elon Musk’s X Fix Its Rampant Fake Sports News Problem?

Little is known about how X will enforce its new policy aimed at parody accounts.

Featured Today

Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.

UFC’s Vegas Sphere Fight Should Set Records

The MMA fight has big aspirations and a budget to match.
August 13, 2024

Duael’s One-On-One Racing Brackets Are Yet Another Stab at Saving Track

Duael will debut in March 2025 with the inaugural Duael 100.
September 8, 2024

Guardian Caps Make NFL Debut

Multiple NFL players wore Guardian Caps over their helmets Sunday.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
August 11, 2024

Guardian Caps Have Arrived in the NFL—Ahead of Schedule

Colts star Jonathan Taylor strapped one on for Sunday’s preseason game.
August 5, 2024

How Omega Timing Determined Noah Lyles Won Olympic Gold

Omega touches every corner of the Olympics.
The Adidas ball has changed over the years.
July 25, 2023

The Most Advanced Tech at the Women’s World Cup Might Surprise You

This year’s OCEAUNZ introduces connected ball technology to the women’s game.
Sponsored

Rewriting the Sports Media Playbook

WSC’s highlight automation improved Clemson’s content strategy and overall growth.