Home Nike shoes Rares, Social Investment Platform Sneaker, Launches “Hype Drop L Club” NFT Membership...

Rares, Social Investment Platform Sneaker, Launches “Hype Drop L Club” NFT Membership Program for SNKRS App Lottery Losers

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Rares, the only platform focused solely on collectible sneakers as alternative assets, today announces the launch of its first NFT project, the Hype Drop L Club membership program.

The company is taking a unique approach to engaging and motivating the global community of sneaker fans who have taken L’S on Nike’s SNKRS app, giving them a chance to turn a typically unpleasant experience into something meaningful and valuable that they possess.

Participants can turn weekly losses into virtual wins with real value on Rares. NFTs are built on Flow Blockchain, a next-generation blockchain designed for user-friendly applications, and will be equipped with utilities including free and discounted sneakers, Rares platform investment credits, discount for retail etc.

“Sneaker lovers are often frustrated with the Hype Drop sneaker lottery system currently in place for buying shoes and disappointed with losses week after week, we wanted to make this experience more light and fun, creating a community of like-minded people around her with a collective voice,” said Gerome SappCEO and Founder of Rares.

“The Hype Drop L Club makes being a loser pay! The program encourages participants to poke fun at everyone who has suffered a loss on the SNKRS app, including themselves! We’re excited to tap into a broader demographic of individuals who would engage with NFTs if it were easy and served a beneficial purpose for them The Hype Drop L Club will act as a AAA for sneakerheads, offering rewards to partners with utilities attractive to members.

The weekly L NFTs will be released alongside the weekly SNKRS sweepstakes and will be available on a first-come, first-served basis. The faster an individual submits their SNKRS App L, the more access they have to that week’s NFTs. The Hype Drop L Club will launch with two initial NFT tiers, Diamond and Club. The rarest and most valuable Diamond Level L NFTs are limited each week to the first 100 people who submit screenshots of their SNKRS L app. The Club Level L NFT, while still valuable, is not also rare. They are reserved for the 101-1000 people who submit their SNKRS App L every week. Club-level NFTs cost $5.00, while Diamond-level NFTs cost $60.00.

“Rares is a perfect example of why the coolest brands in the space continue to flock to Flow to support their consumer-facing experiences,” said Stephanie A. SmellieVice President of Content Partnerships at Dapper Labs.

“Just as sneakerheads have been frustrated with the current lottery system in place to buy shoes, consumers have found the same pain points when trying to integrate with Blockchain. But with Flow, we solved that problem, making it as easy as anything for consumers to engage and buy NFTs. We’re thrilled to be working with Rares to help bring their groundbreaking offering to sneaker fans everywhere.

All it takes to join the Hype Drop L Club is to text or email a screenshot of the SNKRS app drop for this week’s lottery within 24 hours. After submission, users are automatically added to the club with a $20 credit on the Rares platform and a link to join an exclusive discord for members. The Hype Drop L Club is a community and offers additional utilities based on individual participation levels. Utilities are unlocked based on continued participation through a points system, allowing club members who frequently rack up L’s each week to access higher tier rewards. Rewards for sneaker and investment enthusiasts will be added regularly. Rares expects its NFT offerings to evolve quickly to include specials with additional utility down the road and will announce new NFTs as they become available.

Rares is a United States Securities & Exchange Commission (SEC) regulated mobile platform allowing users to securely invest in sneaker culture by buying and trading stocks. The platform floats some of the rarest sneakers in the world, allowing for fractional ownership. Every shoe listed with Rares holds historical and cultural significance, including the Yeezy 1 prototype worn at the 2008 Grammy Awards, the $1990s Apple sneaker, the 1985 “Chicago Bulls After” Air Jordan 1, and many more. Rare sees a future where sneakers are seen not only as a viable investment asset, but also as unique and collectible works of art, in both physical and NFT form.

The Hype Drop L Club is not associated with Nike or the Nike SNKRS app.