Footwear has long been a staple of culture and fashion around the world. For some, shoes exist only to protect the feet from the elements; but for others, they are the most important part of the wardrobe. Sneakers, in particular, have developed a cult following, with some ultra-rare pairs selling for tens of thousands of dollars.
An entire industry has developed around sneaker culture, from the shoe manufacturers and retailers themselves to the influencers who help drive the culture. And as Web3 becomes more common, big sneaker brands like Nike are diving into non-fungible tokens (NFTs) and the metaverse, while play-to-earn projects like StepN have also experimented with shoe tokenization.
One particularly active group are resellers, who purchase newly released, high-demand shoes and resell them to eager buyers who missed the original release. CryptoKicks, a UK-based shoe resale company founded by 13-year-old Blake Cockram, is taking this business model and adding a new Web3 twist: anyone who buys a pair of sneakers with cryptocurrency gets a 10% discount on your order.
In episode 22 of The agendaHosts Jonathan DeYoung and Ray Salmond sit down with Blake to learn what it’s like to be a teen entrepreneur and how CryptoKicks’ crypto-centric business model is helping to bring new users into the blockchain space.
Onboarding Newbies to crypto, One Shoe at a Time
“We accept cryptocurrency as payment,” Blake explained. “You can pay with whatever you want, but we have something going on, and if you pay with cryptocurrency, you get a 10% discount on any trainer.” According to the young businessman, this is an attractive offer for many, especially when the most sought-after sneakers on the secondary market can cost hundreds of dollars.
“People think, ‘Oh wow, that sounds pretty good.’ Might as well get some cryptocurrencies and some cheaper Jordans.’”
CryptoKicks accepts bitcoin (btc), Ether (eth), and stablecoins like Tether (USDT). According to Blake, the majority of customers who buy sneakers with cryptocurrency are new to blockchain. “‘I’ve probably only had one or two people who were already interested in cryptocurrencies, but everyone else was new to it and we got them involved,” he told co-hosts Jonathan DeYoung and Ray Salmond. . So, in addition to getting a pretty attractive discount, Blake’s clients also learn how cryptocurrencies like bitcoin work and how to take greater control over their assets.
“We’ve walked a couple of people through this, like downloading this app, creating their wallet, and it may take us 24 hours to confirm it, because that’s usually the case. And you just tell them how to get over it. And a couple of people have asked us: ‘What is the best currency to pay them? What would you make money with in the future? And things like that.”
The life of a 13-year-old crypto entrepreneur
Blake himself received orange pills from his older brother. “He’s really into cryptocurrencies and he’s like, ‘We could do something crazy here.’ “If you start your company and put cryptocurrency in the name, people will go crazy for it.” And we have done it and it has worked quite well.”
At 13 years old, Blake is still in school, where other students’ opinions are mixed when it comes to cryptocurrencies. “People ask me, ‘What are cryptocurrencies?’ Because actually not many people know,” he explained. “And then there are some people who do know and say, ‘That’s a good thing.’ But I also have some people who say, ‘Oh, I don’t believe in cryptocurrencies.’ It’s a load of rubbish.’”
But Blake is doing everything he can to raise awareness among his classmates:
“I just say, ‘I think cryptocurrencies are good.’ As if it were a new form of payment that not many people know about. “You can get money instantly, and it’s also really fun to have some crypto and send it and stuff.”
To hear more of Blake’s conversation with The agenda, including his thoughts on sneaker culture in the UK and his plans for its future, listen to the full episode on the Cointelegraph Podcasts page. Apple Podcasts either Spotify. And don’t forget to check out the full schedule of other Cointelegraph shows!
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This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are solely those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.