For quite some time, StockX has been a pillar in online hype wear and the latest sports, urban, and street fashion, and now they want to push it even further with a new NFT launch focused on integrating actual products and NFTs.
StockX recently stated on their website and Twitter that they would be adding a new feature to how users may collect and connect with rfshion and crypto; individuals will now be able to buy NFT products that are also actual objects in the real world.
An In-Depth Look at StockX and Their New NFT Vault
StockX was founded on stock market mechanics in order to provide purchasers with easy access to in-demand products while simultaneously opening up attractive economic prospects for resellers and flippers. StockX brought in high-demand products that sold out in physical locations and devised a method to make the shoe-buying process quick and simple for those who missed out.
Now they are attacking NFTs with an experience that allows customers to invest in NFTs tied to physical products and trade them instantly with lower fees; this sounds like a dream for those who love NFTs and those hyped about rare high-end street fashion. The business also stated that the buyer of a StockX Vault NFT would own the corresponding actual object, as well as the ability to take possession of it at any moment.
According to StockX’s website:
We believe that the physical items that trade on our platform are part of a new alternative asset class that can be uniquely associated with NFTs. Each Vault NFT edition is uniquely serialized to an authenticated product in our Vault, as a title of ownership; these NFTs are ERC-1155 tokens on the Ethereum blockchain the reasoning behind that StockX wanted to reduce transaction fees, minimize environmental impacts, and create provenance.
Stockx has big dreams and even bigger results
“Vault NFTs will assist in unlocking new trading opportunities, reinventing what is possible when it comes to investing in today’s StockX culture.” We’re able to provide a more efficient trading experience anchored by lower costs and storage capabilities by bridging the physical and digital worlds — a buyer no longer has to wait several days before they can resell a product. They don’t have to pay the fees associated with multiple legs of shipping and physical authentication,” the brand added in their release.
StockX has now lighted the fire for other top fashion resale sites to join and help make the process fast and simple for buyers while also bringing others to NFTs and StockX’s incredible collection of the latest and rare fashion brands to date.
