NFTs Have Arrived With Cult and Rain’s New Project
Learn about the newest sneaker NFT project and what it could mean for the future of reselling.
Following in the footsteps of StockX, new metaverse company Cult and Rain is dropping their first sneaker NFT collection on the blockchain!
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What is Cult and Rain Releasing?
Their first NFT project called the ‘Genesis Drop’, is an NFT project that allows users to buy, sell, and trade the collectibles that are tied to the physical product. The 2,000 NFT’s are released on February 10th, with a pre-sale on February 7th.
What that means is that if you buy a pair on Cult and Rain’s NFT marketplace, you will be able to own the physical pair of sneakers.
Cult and Rain has an Italian manufacturing company that will begin production on the sneakers on March 8 and will continue for 16 weeks.
According to the Cult and Rain website, there will be 4 designs in 5 colorways, with 100 pairs per colorway set. Prominent artists and designers have helped create the designs of the sneakers.
2 of the pairs releasing on Cult and Rain Project
How much will it cost?
While it’s not totally clear how much the NFT’s will cost, the physical sneakers will be over $1,000.
Cult and Rain says they will be “sourcing the finest materials and fabrication through our coveted Italian supply chains.”
You can expect these sneakers to sell out, and most likely see an uptick in the resell market. While they may not be the most aesthetic, they have some serious hype behind them, and everyone wants to be a part of this new wave.
Some of the sneakers releasing + the artists that helped design them
What Does this Mean?
We’ve already seen possibly the biggest company in reselling, StockX, create NFTs that are tied to physical products. This is absolutely the future of reselling and you’ll want to be a part of it.
You are now able to buy and sell sneakers, without having to actually hold the sneaker. You are also cementing your collection in the metaverse, which is an opportunity that hasn’t yet truly been valued.
We don’t know what reselling will look like in a few years, but you can bet it will look a lot different than what it is today, and you’ll have to be prepared.
More information about the Metaverse reselling will be coming soon! Stay tuned so you are always prepared and equipped with the knowledge to continue success in this game!
Make sure to check out our HypeMaster Playbook to learn about how you can capitalize on this billion-dollar market and set yourself up for success.
What is an NFT?
NFT stands for a non-fungible token, which basically means that it’s a one-of-a-kind digital asset that belongs to you and you only. The most popular NFTs right now include artwork and music but can also include videos and even tweets.
Are NFTs Worth Investing In?
Since the popularity is very huge, NFTs are very common and bought and sold by the majority of the digital community. NFTs as an investment is a very safe way to experience some profit; the profit is dependent on the longevity of the asset and luck.
What is the Metaverse?
The current concept of the metaverse focuses on allowing people to do anything they can do in real life. Going to a work meeting, hanging out with friends, shopping, concerts, performances, and even sightseeing can technically be done in the metaverse.