Photo Credit: Getty Images / Dimitrios Kambouris
The stock market for sneakers, StockX, recently announced that sneaker resale is a $6 million business.
The Detroit-based company confirmed it was with the help of investors Eminem, Wale and Mark Wahlberg. Not only will the funds help sneakers but also watches and some fly handbags.
The way StockX works is it connects buyers to sellers through a live bidding market. So all you have to do is bid until you get what you want, similar to buying actual stocks. The site actually launched only one year ago, can you believe it? One year old and it’s already worth $6 million!
There is a catch, but it’s totally worth it. As a buyer on StockX, you don’t know who you’re buying from but you know two important things – the price, and that the sneakers are authentic.
StockX features sneakers such as Adidas, Jordan, and Nike. The founder is the one and only Cleveland Cavalier owner, Dan Gilbert who co-founded the company with Josh Luber.
Don’t forget to listen to the #LIFTOFF every night from 7 p.m. to midnight & follow @J_Credible x @DjSourmilk on Twitter!