Eminem & Wale Invest In Sneaker Stock Market
StockX is described as the world’s first sneaker stock market.
How it works is buyers place bids, sellers place asks and when a bid and ask meet, the transaction happens automatically.
Founder Josh Luber launched StockX last year because “in the sneaker community and resell marketplace that’s existed for as long as Air Jordan in 1985, there’s never been a data-driven price guide.”
The marketplace just got a big boast this week with a new $6 million round of funding from a group of investors which include Eminem, Wale and Mark Wahlberg.
The new money will be used to improve the existing service, and also to expand into similar markets, such as women’s shoes, stamps, baseball cards, toys and comics.
The sneaker resale market alone is said to be worth $6 billion globally.