Written by Adam Guttzeit
StockX, a relatively new “stock market for sneakers” has just announced a new round of funding that included some big name celebrity sneaker heads. Most notable in this new round of funding are actor Mark Wahlberg and rapper Eminem, who have long been touted as some of the kings of the Hollywood kick scene.
The marketplace brought in $6 million in new funds, and they are expecting to bring in even more big name/big money investors as they move forward.
Eminem and Wahlberg have both had collaborations with the Jordan Brand in the past, with the below Eminem collaboration being valued at over $20,000.
More recently, Wahlberg and Jordan worked on a collaboration for the “Wahlburgers” chain of restaurants owned by the Wahlberg boys.
Other notable names that invested during this round include Scooter Braun, NFL cornerback Joe Haden, and rapper Wale.
StockX was started in Detroit (Eminem showing some home town support) by CEO Josh Luber and Dan Gilbert, owner of the Cleveland Cavs and Chairman of Quicken Loans.
The sneaker re-sell market is booming and will only get bigger and bigger in the future as companies like Adidas and Nike continue to come out with highly coveted limited releases. Most people do not have time to camp out for sneakers. Places like StockX, Flight Club, and Stadium Goods give sneakerheads with busy lives a shot to get the kicks they would kill for.
StockX has a plan to be more than just a sneaker market. They want to be a stock market for all consumer goods as time goes on. And if they continue to stack that paper up and bring in celebrity names, I would be shocked if they failed to.