One of the biggest issues facing the sneaker industry is the increasing amount of fakes that are being produced, and how hard they are to distinguish from legit pairs. With demand so high for rare sneakers like adidas Air Yeezy Boost 350s, and select retro Air Jordans, more and more customers are having to turn to the resell market to get a pair, which comes with big price tags and even bigger risks. The tech startup Chronicled is looking to tackle this issue with smart tags containing blockchain technology, which will allow buyers and sellers to authenticate pairs better than ever before.
According to the International Business Times, Chronicled hopes to work with brands and retailers to have these tags included in sneakers, which will allow people to scan them using a smartphone to identify the exact pair, and confirm its authenticity and history. With a recent seed round funding of $3.42 million, Chronicled hopes to launch this April, and could be a game changer for improving the quality of the resell sneaker market.
Read the full story here.
