"I think there are two really interesting things here. One is obviously the proof of authenticity that travels with the garment. Now, if you and I are involved in a peer to peer transaction, you don't need to necessarily go to an expert to say, 'This is definitely the shirt. This is the type of stitching that they use and this is the machine that was used on it.' And that lowers the cost of the transaction in the sense that you can literally just scan the tag and say, ‘Oh yeah, this is the wallet.’
"But then two, and this is kind of what I really think sneaker culture and current fashion heads could find very interesting and maybe they don't realize it yet. You can store it in a centralized location.
"Like 4k, who's our vaulting partner. You can now use that as collateral in defi protocols. And so you're talking about people that probably have tens of thousands, if not hundreds of thousands of dollars worth of inventory sitting at home in their closets that they know they're not gonna wear.
"That is dead stock that is definitely sitting there. They're never gonna wear it. At some point, they plan on or hope to sell it for a profit in the future. They don't have access to that capital, right now. In order for them to get access to that capital, they have to sell the product with a high transaction cost.
"What if they could store that in a centralized facility that can then offer an NFT that they can then use as collateral on an NFT lending protocol? I think you're going to just see the rise of sneaker lenders or fashion lenders, as a category, as an asset class.
"Oh yeah, a YZY sneaker is worth a thousand bucks. I want to get a $200 loan against it. I don't necessarily want to sell the sneaker, but I do want to unlock some capital.
"Because we all know the collectibility of a piece made by Virgil, or a special piece made by Margiela that holds high regard in certain circles. And now you have access to this extra financing technique and access to 24/7 global liquidity.
"This is useful tech. That's part of what is a more compelling conversation to have than just like, Hey, look at this picture. Look at this jpeg and it's selling for tens, if not hundreds of thousands of dollars."