In a convergence of IRL sneaker culture and Web3, the NFT marketplace ClubRare will auction a prototype shoe from a Jay-Z-designed line
The Brooklyn Zoo shoe firm applied the concept to produce a total of 10 pairs of sneakers, and its resale value exceeds $25,000.
The sneaker was auctioned off on June 21 with the shoe’s artist template. This is the only pair of Brooklyn Zoo shoes that will be compatible with the metaverse, meaning the customer may theoretically wear the sneakers on their avatar in Web3 social places.
The auction will take conducted on ClubRare’s website, with a non-fungible token serving as the real object up for bid. The NFT will connect to both the actual shoe and the artist template. There is currently no information on the auction type or if there will be a minimum bid.
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In celebrity circles, Brooklyn Zoo shoes are popular, with purchasers including Jay-Z and LeBron James. Jay-Z has prominently worn the sneaker company’s wares on several occasions, garnering awareness for the shoe brand. GQ, a men’s fashion magazine, highlighted a pair of Jordan 1s from Brooklyn Zoo during their “Sneaker Month.”
ClubRare is a startup seeking to bridge the gap between the physical and digital worlds, a process it refers to as “phygital.” It has an NFT marketplace and auctions for real-world treasures with NFTs as the things up for bid. This month, ClubRare will debut the prototype Brooklyn Zoo shoe at NFT.NYC.
Although uncommon, Rare’s use of an NFT to auction a tangible collector’s item is not without precedence. Increasing numbers of businesses are affiliating real-world items with NFTs to take advantage of the blockchain’s capacity to verify provenance.
Mike Tyson collaborated with Binance three months ago to auction off “mystery box” NFTs. Some of these NFTs come with real goods that may be redeemed by their holders. Additionally, some of the physical stuff was signed by Tyson.
A few months ago, Hennessy, a Cognac liquor business, auctioned an NFT via a specialty liquor NFT marketplace. The NFT did not sell for a high price because of its art. Hennessy offered the purchaser of the NFT a unique bottle of Cognac in addition to a box and glasses.
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