Sneakmart: The Next Big Market in the Metaverse

Fashion is taking over the Metaverse through 3D avatar customization. Adding high-quality and collectible sneakers to the mix will further enhance one’s avatar’s appeal.

Sneakmart, a French startup, considers sneaker NFTs as the next big market. 

The Similarities Between Sneakers And NFTs

It isn’t entirely strange to draw parallels between the sneaker industry and non-fungible tokens. Both concepts thrive where collectibles and limited editions are concerned, primarily thanks to secondary market sales.

For NFTs, profile picture collections, like Bored Ape Yacht Club and CryptoPunks, have paved the way for mainstream adoption of this digital technology.

Sneakers have a certain appeal, as there is a growing market of collectors and flippers. Therefore, one can sell limited-edition shoes for thousands of dollars to the right bidder.

Popular models include the Nike Air Jordan 1 High, Adidas Yeezy 350, Nike Dunk Low, Jordan 4, etc. Unfortunately, it can be hard to acquire such sneakers, as these editions are very limited and many participants are competing.

Tokenizing the demand for sneakers makes sense. Sneakmart wants to bring highly sought-after sneakers to the Metaverse by issuing them as NFTs on the Ethereum blockchain.

These virtual shoes can be used to customize one’s 3D avatar in the Metaverse, although owners can sell or trade them too. Moreover, several of these virtual shoes will give holders access to a physical pair in the real world, adding an extra incentive to explore this new opportunity.

Sneakmart has gained momentum as a community-driven mobile app dedicated to streetwear trends. Its expansion into NFTs through sneakers – called Metakicks – is an interesting development.

It helps democratize access to limited-edition sneakers through a new paradigm and introduces access to other benefits, including derivative products. 

Understanding the Metakicks Concept

Sneakmart believes its Metakicks NFT collection will change the narrative in the non-fungible token industry. There are 15 unique 3D animated designs with various backgrounds, shapes, textures, materials, and colors.

The designs will have four levels of rarity – from rare to legendary – to further enhance the desirability. 

Furthermore, the first Metakicks drop will grant access to 625 pairs of physical sneakers. It is possible through a collaboration with StockX, the global leading streetwear marketplace.

Lucky users will get a virtual pair and a physical pair, which will be shipped internationally by StockX. Over $200,000 worth of physical sneakers is up for grabs, with every Metakicks mystery box purchase granting a 10% chance to win.

It is worth noting the Metakicks are not visually linked to the physical sneakers. However, winners of physical pairs can unlock real-world rewards, including VIP access to soccer games, signed items, and meet-and-greet opportunities.

Additionally, NFT holders do not need to open their box and keep it closed, either for safekeeping or resale purposes.

Sneakmart and StockX plan to host several phygital Metakicks giveaways in the future to enhance the collection’s appeal further. 

Several of the Metakicks’ first drop designs are 1-of-1 unique editions created in collaboration with international soccer players like Kinsley Coman and Thilo Kehrer. These sneakers will be auctioned off through the OpenSea platform before the drop. 

The 6,250 Metakicks mystery boxes will be sold through the Sneakmart website in June 2022.