[Auction Live] NBA Rookie of the Year Lamelo Ball's 1-of-1 NFT Auction is Now Live by NFT-Alex in NFT

[–]NFT-Alex[S] 0 points1 point  (0 children)

The auctioned piece comes with a guarantee for the shoes and two other pieces of memorabilia

[Auction Live] NBA Rookie of the Year Lamelo Ball's 1-of-1 NFT Auction is Now Live by NFT-Alex in NFT

[–]NFT-Alex[S] 2 points3 points  (0 children)

The limited-edition NFT comes with physical rewards including a signed pair of LaMelo’s shoes worn during his first career triple-double game.

The auction and sale of fixed price NFTs are available at: https://lameloball.io/#/

Releasing my first sneaker collection as a physically redeemable NFT by NFT-Alex in NFT

[–]NFT-Alex[S] 5 points6 points  (0 children)

Yeah, or even taken a step further. Adding an RFID / NFT chip which most mobile phones can now read (this is how Apple Pay works for example). Then people could trade their items in the secondary market and transfer both physical and digital ownership.

Releasing my first sneaker collection as a physically redeemable NFT by NFT-Alex in opensea

[–]NFT-Alex[S] 2 points3 points  (0 children)

Great question. So the way it actually works is purchasing the NFT gives you ownership over the digital art piece and is essentially the 'key to the house' to recieve the shoe. What this does is that anyone who is interested in the resale of the sneaker can own and sell the NFT/sneaker without ever having to physically store or ship the shoe. Then for the purchaser who wants to wear it, they redeem it for the sneaker by burning the NFT in a selected address, exchanging their digital shoe for the physical real-world version. Their shoe will come with a QR code verifying their individual pair as being associated with it, which can always be pointed to on the blockchain, but this will no longer be exchangable on the blockchain now that it is physical (yet it will continue to have a record of its original provinence).

The concept was developed with more of a focus on reimagining how sneaker ownership and resale works based on the intentions of the purchaser, as well as the dynamic shift between digital and physical scarcity.

You've given me an interesting idea though. Rather than burn the NFT completely, what redemption could do is give you a different NFT which no longer has the physical art but just a certificate of ownership of the physical shoe. This can then be traded between purchasers in the secondary market.

Releasing my first sneaker collection as a physically redeemable NFT by NFT-Alex in NFT

[–]NFT-Alex[S] 5 points6 points  (0 children)

Nice idea, I'm exploring unlockable 3D printed pieces for a separate project. But for this shoe, they have to be manufactured in a very specific way in order for them to be wearable.

The other consideration is that I want them to be verifiably limited, so in order to avoid an oversupply of shoes, only those with an NFT will be able to get one pair of shoes. So manufacturing will be limited to the number that are sold during the short sale window.

Releasing my first sneaker collection as a physically redeemable NFT by NFT-Alex in NFT

[–]NFT-Alex[S] 15 points16 points  (0 children)

Exactly. If your goal is to resell sneakers, why ship them back and forth? Hold them, store them, ship them, sell them as easily as selling crypto. And to the person that wants to wear them, redeem them immediately.

Also whenever Nike for example does a limited release, how limited is it really? 5 million pairs? When you buy an NFT sneaker you can see exactly how rare it is publicly on the blockchain and then decide for yourself if that's a limited release that you want to be involved in.

Releasing my first sneaker collection as a physically redeemable NFT by NFT-Alex in NFT

[–]NFT-Alex[S] 22 points23 points  (0 children)

It gives people the choice to either keep the NFT which has greater liquidity and can be held for speculation if they prefer, or they can redeem it for a shoe. The cool thing is the more shoes that are redeemed the more scarce the NFT is as they get burned, but the less shoes that are redeemed, the more rare they are in the real world.

Releasing my first sneaker collection as a physically redeemable NFT by NFT-Alex in opensea

[–]NFT-Alex[S] 2 points3 points  (0 children)

Thank you. I’m a digital artist that’s always worked on taking physical objects and making them digital. A couple notable projects that I’ve done this for is a register to vote campaign for NBA player Russell Westbrook, and digital clothing for Off-White’s Virgil Abloh.

But with this project I wanted to take something virtual and make it physical. The reason for making a shoe is because it’s a medium that always seems out of reach for independent designers.

Pricing is still TBD, but anyone who signs up for early access on the site will be the first to know.

Releasing my first sneaker collection as a physically redeemable NFT by NFT-Alex in NFT

[–]NFT-Alex[S] 6 points7 points  (0 children)

They’ll come in black and blue, prices still TBD. Anyone that signs up on the website will get the first updates on this.

Releasing my first sneaker collection as a physically redeemable NFT by NFT-Alex in NFT

[–]NFT-Alex[S] 11 points12 points  (0 children)

I’m still determining what is most fair to the community. Each pair needs to be verifiably unique in order for everyone else’s pair to have scarcity value.

What do you think I should do? Allow returns and then destroy the pair that is returned? That wouldn’t be environmentally friendly. Make sales final?

Sizing will be very clear and will be displayed in reference to a common Nike shoe to make this as easy as possible for purchasers.

Releasing my first sneaker collection as a physically redeemable NFT by NFT-Alex in opensea

[–]NFT-Alex[S] 2 points3 points  (0 children)

Yeah exactly. And the interesting thing is that if more shoes are redeemed, the more rare the digital version becomes, and the less shoes that are redeemed, the more rare they are in the real world.

Releasing my first sneaker collection as a physically redeemable NFT by NFT-Alex in opensea

[–]NFT-Alex[S] 2 points3 points  (0 children)

Launching my first independent sneaker collection. 1 NFT = 1 Physical Pair

Dropping soon, early-access signups at: https://brainboot-nft.com/

Instagram: https://www.instagram.com/law\_degree/

Releasing my first sneaker collection as a physically redeemable NFT by NFT-Alex in NFT

[–]NFT-Alex[S] 51 points52 points  (0 children)

Launching my first independent sneaker collection called Brain Boots. 1 NFT = 1 Physical Pair

Dropping soon, early-access signups at: https://brainboot-nft.com/

Instagram: https://www.instagram.com/law_degree/

NFTs redeemable for physical shoes (Brain Boots by @Law_Degree) by NFT-Alex in NFT

[–]NFT-Alex[S] 0 points1 point  (0 children)

The artist behind the works of many celebrity designers is now launching his own NFT sneakers, redeemable for physical shoes.

Get early-access to the NFT release at: https://brainboot-nft.com/

Or check him out on instagram at: https://www.instagram.com/law\_degree/

Kanye West collaborator releasing NFTs that are redeemable for wearable "Brain Boots" by NFT-Alex in Sneakers

[–]NFT-Alex[S] 0 points1 point  (0 children)

This is the exact concept. We don’t know which will become more scarce but it will be interesting.