What does the end of Yeezy mean for the Sneakerverse?
Creeping speculation has entered the market.
To hear more audio stories from publications like The New York Times, download Audm for iPhone or Android.
Yeezys are disappearing. Off the shelves - and sites - of Adidas. Disappeared from Foot Locker. No longer on display at Christie's headquarters in New York, where in early October the Nike Air Yeezy 1 prototypes that auctioned off in 2021 for $1.8 million had remained awaiting another sale. (It was cancelled.) As Kanye West's business partnerships evaporated following two weeks of anti-Semitic and anti-Black statements, his products, and in particular his shoes, also seemed to fade from view. /p>
Yet on resale sites StockX, Stadium Goods and GOAT, where sneakers are traded as commodities and collectibles, there are still hundreds of pairs . And in the Discord and Reddit chatrooms where sneakerheads congregate, a debate rages over what, exactly, the fall of Ye, as Mr. West is now known, means for the future of what we have. called "an alternative asset class". or an investment that is not in stocks or bonds, by Cowen Equity Research in 2019.
There are those like Christopher George, the founder of the House of Carts "group of cooks" (a group of cooks is a group that shares and monitors drop and resale information), which on the day the Adidas announcement was released, advised its 1,500 members, "If you're holding loads of Yeezys, I would 100% be looking for an exit plan".
And then there are those like Andre Ljustina, the founder of sneaker and streetwear site Project Blitz, who believes that the end of the Adidas Yeezy partnership will simply make the shoes more collectible, that "when the smoke clears, their value will increase".
Mbiyimoh Ghogomu, managing director of Tradeblock, a sneaker trading platform with more than 200,000 users, is 'creeping speculation' . The number of Yeezy transactions on the site increased by 40% from last Monday to Wednesday compared to the previous three days (Adidas announced that it was cutting ties on Tuesday).
The problem isn't just the social currency attached to sneakers, but a market that Cowen predicts could reach $30 billion globally by 2030, which has had museum exhibits and
Creeping speculation has entered the market.
To hear more audio stories from publications like The New York Times, download Audm for iPhone or Android.
Yeezys are disappearing. Off the shelves - and sites - of Adidas. Disappeared from Foot Locker. No longer on display at Christie's headquarters in New York, where in early October the Nike Air Yeezy 1 prototypes that auctioned off in 2021 for $1.8 million had remained awaiting another sale. (It was cancelled.) As Kanye West's business partnerships evaporated following two weeks of anti-Semitic and anti-Black statements, his products, and in particular his shoes, also seemed to fade from view. /p>
Yet on resale sites StockX, Stadium Goods and GOAT, where sneakers are traded as commodities and collectibles, there are still hundreds of pairs . And in the Discord and Reddit chatrooms where sneakerheads congregate, a debate rages over what, exactly, the fall of Ye, as Mr. West is now known, means for the future of what we have. called "an alternative asset class". or an investment that is not in stocks or bonds, by Cowen Equity Research in 2019.
There are those like Christopher George, the founder of the House of Carts "group of cooks" (a group of cooks is a group that shares and monitors drop and resale information), which on the day the Adidas announcement was released, advised its 1,500 members, "If you're holding loads of Yeezys, I would 100% be looking for an exit plan".
And then there are those like Andre Ljustina, the founder of sneaker and streetwear site Project Blitz, who believes that the end of the Adidas Yeezy partnership will simply make the shoes more collectible, that "when the smoke clears, their value will increase".
Mbiyimoh Ghogomu, managing director of Tradeblock, a sneaker trading platform with more than 200,000 users, is 'creeping speculation' . The number of Yeezy transactions on the site increased by 40% from last Monday to Wednesday compared to the previous three days (Adidas announced that it was cutting ties on Tuesday).
The problem isn't just the social currency attached to sneakers, but a market that Cowen predicts could reach $30 billion globally by 2030, which has had museum exhibits and
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