55 Global Markets will launch YEEZY at 15:00(UTC+8) on Jan. 23, 2019, and open YEEZY/USDT trading pairs.
Risk reminder: Digital currency is a high-risk investment, investors should be careful when purchasing, and pay attention to investment risk. 55 will select the highest-quality currencies. However, it shall not bear the liability of guarantee, compensation, etc.
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Renowned in the fashion industry as a highly-sought after collectible, Kanye West and Adidas’s Yeezy shoes has already attracted a large community of investor-collectors.
The release of each new Yeezy 350 has drawn media headlines, as well as celebrity fanfare. Yeezy 350 has even become a symbol of “identity,” and each pair of Yeezy 350 has garnered its own unique space and following.
As a premium, limited-edition item, Yeezy 350 is in short supply, often causing large price fluctuations. A large amounts of resellers have profited from buying and selling to fans in the secondary market. Even then, many fans worldwide have not been able to obtain a pair due to the geographical, time zone, and language barriers.
55 Global Markets wants to give everyone the opportunity to own a piece of—or the entire—Yeezy by tokenizing the merchandise. Any fan or collector who owns a whole token can redeem the underlying Yeezy shoes pursuant to 55 Global Markets’ redemption procedures. In addition to satisfying fans’ desires, it also enables investors and collectors to obtain returns from the limited-edition merchandise. Moreover, 55 Global Markets is not only tokenizing a single Yeezy shoe but the entire series—all 8 models, each with its unique characteristics—into one single token. As such, the value of the Yeezy 350 token is based not only on one particular pair but by the entire series combined. Anyone who owns the series of sneakers can also apply to become an issuer and add their tokens to the 55 Global Markets ecosystem.
To ensure the authenticity of the merchandise and the rights of holders, 55 Global Markets will conduct an in-depth screening of all limited-edition and premium-brand merchandise token issuers. The issuer must be a manufacturer-authorized retailer or a key opinion leader (KOL), and each piece of merchandise will be subject to authenticity review by experts. Once authenticated, the merchandise will be delivered to a licensed third-party trust company to be held in custody. Tokens are only issued upon completion of the entire process.
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