Teenage Entrepreneur Links Sneaker Culture and Cryptocurrency with CryptoKicks
Summary:
13-year-old entrepreneur, Blake Cockram, has incorporated cryptocurrencies into his U.K.-based sneaker resale business, CryptoKicks. The start-up offers a 10% discount to customers making purchases with cryptocurrencies. With sneakers becoming increasingly popular and different forms of payment such as Bitcoin, Ether, and Tether being accepted, more customers are getting introduced to the blockchain space. Blake's innovative approach is not only attracting customers with significant discounts but also teaching them the functionality of cryptocurrencies.
Shoes have always been an integral part of culture and style across the globe. While some use footwear merely as a protection against dirt and adverse weather conditions, for others, it's an indispensable part of their dressing. Sneakers, specifically, have created a significant buzz around themselves, with rare models sold at staggering prices, reaching tens of thousands of dollars. Consequently, a whole industry encompassing manufacturers, retailers and influencers have cropped up, capitalizing on the sneaker craze. High-profile sneaker-making brands like Nike are beginning to embrace nonfungible tokens (NFTs) and the Metaverse, as the Web3 phenomenon becomes more prevalent. Concurrently, play-to-earn undertakings like StepN are dabbling in tokenizing footwear.
A particularly engaged segment is comprised of resellers who buy new, sought-after shoe models and resell them to those who couldn't make a successful purchase when the product initially launched. CryptoKicks, a shoe resale venture based in the UK that was started by 13-year-old Blake Cockram, is revolutionizing this trade pattern by bringing a Web3 flavor into it. Any customer buying a pair of sneakers using cryptocurrency gets a 10% discount on their total order.
During Episode 22 of 'The Agenda,' hosted by Jonathan DeYoung and Ray Salmond, they talk with Blake about his experience as a young entrepreneur and the role of CryptoKicks’ crypto-friendly approach in bringing more patrons to the blockchain space.
Blake explained, "We accept cryptocurrency as a form of payment, and if you decide to pay via crypto, you are entitled to a 10% discount on any shoe model.” This method appears to be quite attractive, especially when the inflated prices of these sneakers in the secondary market can reach hundreds of dollars.
"Potential customers often think it's a great deal to buy digital currency in order to get discounted Jordans,” he observed. CryptoKicks accepts Bitcoin (BTC), Ether (ETH) and stablecoins like Tether (USDT). According to Blake, most buyers who used cryptocurrency to purchase sneakers had no prior knowledge about blockchain. He also noted that besides the impressive discount, customers also get an understanding of how cryptocurrencies such as Bitcoin function and how to manage their assets more effectively.
"It usually takes around 24 hours for confirmation. We guide them through the entire process, such as how to create a digital wallet and what cryptocurrency is favorable to use for payment as well as potential for future gains,” he stated.
Regardless of the varying opinions at school about cryptocurrency, Blake is working hard to educate his peers about it. He shared, "I envision cryptocurrencies as the future of transactions, something many people are unaware of. Besides instant money transfer, managing digital currencies can be fun too."
Hear more about the entrepreneurial journey of Blake, insights on sneaker trends in the UK and more on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. Also, don't miss out on Cointelegraph’s other shows and Magazine: 6 Questions for Leila Ismailova: Digital fashion and life after Artisant.
Keep in mind that the information provided here is purely for general purposes and should not be perceived as legal or investment advice. The opinions described here are solely those of the author and do not necessarily represent the views or perspectives of Cointelegraph.
Published At
11/1/2023 12:20:00 PM
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