A virtual sneaker made by the digital fashion company RTFKT, featuring a unique design generated from a CryptoPunk, a popular kind of non-fungible token (NFT), as The CryptoPunk-themed sneakers were sold in both physical and digital form to CryptoPunk owners, is seen in this render obtained by Reuters on August 10, 2021. RTFKT INC/Handout via REUTERS
Johannesburg - Sneakers are becoming a lucrative market to start investing in. This has led to some people turning to a sneaker trade to raise funds or extra income.
Thulani Ngwenya, CEO and founder of Sneaker Love, says by using E-commerce and the internet as a whole, it’s possible to create opportunities for people to monetise their valuables.
“With Sneaker Love, people can sell their pre-loved or new sneakers to consumers looking for such. They can use the platform as a side hustle or build real sneaker businesses,” he said
According to a statement from Sneaker love its all about buying low and selling high.
“The trick is knowing which releases are likely to command a significant price premium on the secondary market, and targeting them with everything you’ve got.
“In 2020, lockdown restrictions were put in place, but people were still finding various ways of acquiring the latest sneakers and trying to flip them for some extra cash in their pockets. All of this should tell us that sneakers aren’t just a subculture but rather have strong financial power,” read the statement
According to Sneaker Love, the sneaker market is unlikely to disappear as more people are shopping online and more opportunities have arisen to make money.
“Sneakers have become a wardrobe essential, irrespective of the season. Be it winter, summer or spring, everyone loves wearing sneakers to add a trendy look to their outfit. They come in a wide range of styles and designs, from classic and minimalist to bold and statement-making,” concluded the statement.
The Star
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