For a CEO, the sneaker market is the key to unlocking a bold new future – The Athletic


It’s probably impossible to think of yourself as a sneakerhead and not own a pair of Air Jordan 11s.

It could be the perfect shoe no matter the color. The mesh upper combined with patent leather makes the Jordan 11 a sport shoe and a dress shoe for those who are so inclined to fit them into a more formal look. The immaculate Jordan 11 is a must-have for anyone who takes their shoe game seriously.

I have four pairs – including the Concord 11 which I set my alarm early to buy online when they re-release and the “Space Jam,” which is the colourway Michael Jordan wore in the movie of the same name. A lot of us go to great lengths to claim a pair, so the last thing anyone wants is for someone to step on all 11s.

But an accidental footing on your Jordans can be the spark of big plans – at least that was for Gerome Sapp when he was at Harvard Business School.

“I remember going to class one day and a kid stepped on my sneakers and I remember being like fucking it was my Jordan 11s and at that point I was now a real sneakerhead . And I remember wiping my shoes off, glad he hadn’t at least stepped on my shoelaces. But then I realized that there has to be some innovative way to get value out of this sneaker without having to buy it or physically own it. What if you could turn it into an alternative asset – when we started talking about alternative assets in class, everyone was thinking about crude oil and other commodities, which they should have been because they are alternative assets – my mindset went straight to sneakers. “

This mindset led to Rares, a social investing platform that allows investors to buy stocks (for as little as $ 10) in rare sneakers. Rares, which launched in April 2021, announced it had raised $ 4 million in its seed funding round led by leading venture capital firm


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