As we have written before, the sneaker industry has fallen into oblivion. Limited exclusive releases fall into the hands of the sons of my mother’s girlfriend or are outbid with special software. But all this can be fixed with NFTs. The blockchain records everything. Creating a million fake lottery accounts is not as easy as in the classic email and bot system.
In general, Flowers For Society were among the pioneers of the new approach. This is a German brand that has decided to create ultra-limited running shoes and sell them using NFT. You buy their token, which will become the key to all future releases. Without it, it will be simply impossible to get a new pair.
“It’s almost impossible to get the sneakers you really want these days,” explains founder Till Jagla. “We closely watched the cryptocurrency and sneaker markets and came to a conclusion: unite the two markets with a physical sneaker brand powered by NFT technology.”
For everything to work, you need to finalize a few points. First off, these sneakers must be of value to someone. It is extremely difficult to convince a person that he needs Flowers For Society and not Air Jordan or Yeezy for total happiness. Secondly, NFT as a key to next releases looks more like speculation than salvation. Where are the guarantees that they will not be immediately bought up by some clever person so that they can then be sold at exorbitant prices? It would be way safer to sell individual NFTs with rights to physical sneakers before each new release.
There is something to work on in general, but it’s nice that the community is moving in the right direction.