Can Web3 save sneaker culture? ...Middle East

You are what you wear. On your feet, that is — for sneaker enthusiasts. The global sneaker industry was valued at around $72.2 billion in 2020 and is expected to reach $120 billion by 2026, according to insights source Circular Online. But over the past few years, its collector culture has hit a plateau. A cooling market and persistent counterfeits have contributed to prevailing sneakerhead fatigue, sparking speculation as to whether the sneaker bubble has burst. In response, players like Nike, Adidas, and Puma are pivoting to Web3 to fight back. “The very essence of the concept of ‘ownership’ is morphing. It’s evolving,” Dale Parr, fashion innovation consultant and sneaker aficionado, t

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Can Web3 save sneaker culture? ...Middle East

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