Sneakers: The modern-day Gold
“Once just about comfort and traction on the basketball court and running track, it is now more about identity, exclusivity, and money.”
Sneakers are not just about fashion anymore; they have become a cultural currency and modern investment. Sneakers are being traded and valued in a way that makes it look like gold on the feet.
Do you know how the word " sneakers " got introduced? In the 19th century, when all this started, the first rubber-soled shoe for quietness came into the picture, making it easy for the wearers to ‘sneak up’ on people.
Since then, the story of modern gold has started from sportswear to streetwear and is now becoming collectibles for luxury wardrobes because of their limited editions like Nike x Off-white, Yeezy, Jordans, and many more to come.
But what makes these sneakers the modern-day gold?
Firstly, because of exclusivity, all the brands like Nike and Adidas always drop a limited number of pairs for a specific edition, which creates hype and excess demand. So, when demand exceeds supply, the sneakers become more desirable.
Next are the resale market platforms like StockX, specifically Indian resale platforms like Culture Circle andVeg-nonveg, where sneakers are traded, sometimes even for 10x their original value! Owning a rare pair symbolizes style, culture, and identity, just like gold signals wealth.
Beyond all these, sneakers have built their own culture and economy. Sneakerheads, those who love sneakers, often meet at global events, like Sneakercons, to flaunt their kicks and be a part of a culture resulting from increasing hip-hop, rap, and street culture. Now talking about the economy, various traders in these resale markets are the youth, seeing this sneaker flipping as a side hustle and earning profits through resale.
Sneakers are all set to evolve further. Another interesting fact is that companies are now contributing to the culture by bringing eco-friendly materials into their production. The rise of the sneaker market, with the help of technology, hints that this market will grow even stronger.
So, gold might shine in your locker, but sneakers shine on the street. This mix of culture, identity, and monetary value is precisely why people say Sneakers are the modern-day gold.
About the author,
Priyanshu Garg
He brings many different perspectives to his writing through research and personal observations. When he's not lost in words, he explores new locations and captures memories through his lens.
