StockX, the self-anointed “stock market of things,” has stepped into the dubious market of NFTs. The resale platform isn’t welcoming outside sales of NFTs but is instead minting its own non-fungible sneaker tokens — and to hear them tell it, they’re tied to very much tangible sneakers.
A series of NFTs representing some of the hottest sneakers in recent years went up for sale on StockX Tuesday, and each is tied to a real-life sneaker stored in the company’s “brand new, climate-controlled, high-security vaults.” This connection would seemingly assuage concerns of trading in an item that isn’t tangible, or what some might even call “worthless,” but good luck getting your hands on the physical sneaker your token represents.
