The sneaker reselling market has been growing significantly for the past couple of years and the market participants can be categorized into two segments:
Sneaker resellers use social apps (i.e. Instagram, Facebook Marketplace and Discord) as these platforms provide a way for them to operate a digital storefront, grow their following and engage with their customers directly. Many of the transactions happen through in-app messages while payment & shipping are handled outside of the platforms, which causes a lack of accountability and trust.
Reselling marketplaces such as StockX and GOAT are much more safe and reliable but do not let buyers and sellers communicate and transact with each other. Users typically are on single player mode where they are searching, discovering and buying with the platform, and not with other users.
We will continue to build to solve for the need for resellers to operate their own storefront while also providing authentication, payment and transparent review systems. We believe that we will be able to fill an empty gap in the market if we can provide a social marketplace platform that can provide higher levels of security and trust.