If you constantly find yourself marveling at how quickly non-fungible tokens (NFTs) have overtaken the world of investing, you’re not alone. NFTs are selling for millions of dollars and helping popular cryptocurrencies rise in value. It’s sometimes easy to forget about the non-digital collectibles that are an industry of their own. StockX may sound like a stock trading platform, but it actually provides buyers with fashion collectibles like sneakers and handbags. Now, through the launch of Vault NFTs, this company is bridging the gap between digital and physical collectibles.
What Do You Need to Know About Vault NFTs?
StockX describes this initiative as “an experience where our customers can invest in NFTs tied to physical products and trade them instantly with lower fees.”
For buyers, this opportunity will mean the chance to own not just the token, but the physical sneakers as well. According to StockX, buyers will have the option to claim the physical products at any time. Until they do, the collectibles will be housed in a warehouse.
Bridging the Gap
CEO Scott Cutler describes the launch of Vault NFTs as just the start of what is to come. In a statement released by the company, he notes that “By bridging the physical and digital worlds, we’re able to provide a more efficient trading experience anchored by lower costs and storage capabilities…”
Digital fashion is an industry that has been expanding as metaverse technology has taken shape. A partnership with Ye has led to speculation that Gap (NYSE:GPS) may be considering expanding into the digital fashion space. While prominent names in the sector such as Ralph Lauren (NYSE:RL) and Gucci have already crossed that bridge, some questions have been raised. After all, why buy fashion items when you can’t physically wear them?
Vault NFTs may be the answer to that. Digital assets are trendy right now, but there are still customers who want something physical. Even after Nike (NYSE:NKE) purchased a digital shoe producer, some wondered if the market for shoes that couldn’t be worn had real staying power. Vault NFTs has found a way to bridge an important gap and provide consumers with both a digital and physical asset simultaneously. This may be the exact thing that investors have been looking for.
What Comes Next
Since this is just the start of StockX’s NFT venture, we can’t say for sure what’s to come. However, investors have been gearing up for the highly anticipated StockX IPO.
The latest update on this front is that StockX has recruited help from Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS). When it debuts — perhaps sometime in the first half of 2022 — it will bring a huge collectibles business to the market. Keep a close eye on StockX, and on the Vault NFTs launch.
On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.