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Vault NFTs Launches Digital Sneaker Ahead of Highly Anticipated StockX IPO

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If you constantly marvel at how quickly non-fungible tokens (NFTs) have taken over the investment world, you’re not alone. NFTs sell for millions of dollars and help popular cryptocurrencies rise in value. It’s sometimes easy to overlook the non-digital collectibles that are an industry in their own right. StockX may look like a stock trading platform, but it actually provides shoppers with fashion collectibles like sneakers and handbags. Now, with the launch of Vault NFT, this company is bridging the gap between digital and physical collectibles.

Source: valerie eydlin / Shutterstock.com

What should you know about Vault NFTs?

StockX describes the move as “an experience where our customers can invest in NFTs tied to physical commodities and trade them instantly with lower fees.”

For buyers, this opportunity will mean the ability to own not only the token, but also the physical sneakers. According to StockX, buyers will have the option to claim the physical products at any time. Until they do, collectibles will be housed in a warehouse.

Bridging the gap

CEO Scott Cutler describes the launch of Vault NFT as the start of what’s to come. In a statement released by the company, it notes that “By bridging the physical and digital worlds, we are able to provide a more efficient trading experience anchored by reduced costs and storage capabilities…”

Digital fashion is an industry that has grown as metaverse technology has taken shape. A partnership with Ye has led to speculation that Difference (NYSE:GPS) may be considering expanding into digital fashion. While important names in the sector such as Ralph Lauren (NYSE:RL) and Gucci have already crossed this bridge, some questions have been raised. After all, why buy fashion items when you can’t physically wear them?

Vault NFT may be the answer to this. Digital assets are all the rage right now, but there are still customers who want something physical. Even after Nike (NYSE:NKE) bought a producer of digital shoes, some wondered if the market for shoes that could not be worn was really sustainable. Vault NFTs has found a way to bridge a significant gap and provide consumers with a digital and physical asset simultaneously. This may be exactly what investors have been looking for.

What happens after

As this is just the beginning of StockX’s NFT adventure, we can’t say for sure what’s to come. However, investors are gearing up for StockX’s highly anticipated IPO.

The latest update on this front is that StockX has enlisted the help of Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MRS). When it debuts – possibly in the first half of 2022 – it will bring a massive collectibles business to market. Keep an eye out for StockX and the launch of Vault NFT.

At the date of publication, Samuel O’Brient held (neither directly nor indirectly) any position in the securities mentioned in this article.e. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.

Vault NFTs Launches Digital Sneaker Ahead of Highly Anticipated StockX IPO

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