#Roommates, earlier this week sneakerheads went loopy when it was introduced that Kanye West’s 2008 Nike Air Yeezy sneakers made historical past by changing into the most costly sneakers of all-time after promoting for a whopping $1.8 million! Well, we determined to do some digging into the corporate that bought the enduring sneakers, RARES, and caught up with the corporate’s CEO & co-founder Gerome Sapp to search out out extra.
When we requested Gerome what prompted his choice to buy the 2008 Air Yeezy prototypes particularly, he defined that it was a mixture of being a life-long sneakerhead, in addition to a private choice. “The Nike Air Yeezy 1 prototype not only means a lot to the sneaker culture, but it meant a lot to me personally. I retired from the NFL in 2008 and was wondering what was next with my life. When I saw Kanye and Nike unveil these sneakers at the 2008 Grammys, aside from being dope, they represented a new age of independence, a beginning of something bigger to come. That is exactly what RARES represents to my team and I now. So when the opportunity was presented to acquire this all-time favorite grail, I hopped on it. I felt that this 1 of 1 grail didn’t belong in a museum or a museum environment, it needed to be securitized and split into affordable shares so that anyone who loved these sneakers and the culture around what made these sneakers hot, could invest in them. One equity share at a time,” he stated.
Now that his firm RARES has formally change into half of sneaker historical past, we requested Gerome what’s going to occur to the Yeezy’s now that they’ve been offered—and he informed us he has massive plans:
“On June 16th RARES will open up an IPO for the sneakers in the App and online. That means individuals will be able to purchase equity shares in the sneaker for as little as $15 -$25 a share. Once the shares are all purchased, the IPO closes and secondary trading of the shares begins!
We plan to eventually display them in various culture hub cities in the USA. Chicago, the home of Kanye West, being one of them. So that the culture can see and loosely interact with this historic item and feel confident in knowing their collective influence. Users can go download the RARES IOS app (Rares App) or check it out online at https://rares.io/ and sign up for the Yeezy 1 IPO.”
As for the lingering query concerning Kanye being behind the acquisition of the sneakers, Gerome set the report straight saying, “No Kanye has no affiliation or involvement in the acquisition of this sneaker. However, I’d love to meet Kanye and thank him for what he’s done for the culture of music and fashion.”
He revealed that RARES has additionally acquired one other pair of Kanye’s sneakers from the Yeezy model…the legendary Red Octobers.
Gerome Sapp additional mentioned his motivation to create RARES, which dates again to his Houston, Texas upbringing:
“I created RARES, which is the world’s first of its kind sneaker investment marketplace that allows users to invest in fractional ownership in collectible sneakers by buying and trading real SEC qualified shares in them. Most people have no clue that certain collectible sneakers are a thriving alternative asset class that [have] literally outperformed GOLD, The S&P 500, and other top performing securities in regard to rates of return on investment.
I’m from the culture and grew up in the culture. We are the reason these sneakers are so popular and so expensive. Our culture created this value! But many marginalized communities are now priced out of being able to purchase these sneakers, so RARES created a way to own fractional shares in these sneakers for as little as $15 a share. So if the value of the sneaker appreciates, theoretically so do the values of the shares you own in the sneaker.”
RARES is all the time on the hunt for the “rarest” sneakers on earth and he assured us that massive plans are in retailer for what’s coming subsequent!
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