Payouts: METAZ VS Resale Platforms
In the competitive world of sneaker reselling, the speed at which sellers receive their earnings can make or break their business. Traditional Web2 platforms have dominated the market, but emerging Web3 alternatives are challenging the status quo. This blog examines the payout processes of major resale platforms and compares them to METAZ, our Web3 platform.
Web2 Platforms: The Current Standard
StockX
StockX, a leading sneaker marketplace, follows a multi-step payout process:
- Sale confirmation
- Seller ships to one of StockX's verification centres
- Authentication
- Payout initiation
Typical timeline:
- Shipping to StockX: 2-3 days
- Authentication: 1-2 days
- Bank transfer: 3-5 days
Total payout time: 7-12 business days
GOAT
GOAT's process mirrors StockX:
- Sale confirmation
- Shipping to GOAT
- Authentication
- Payout initiation
Typical timeline:
- Shipping to GOAT: 2-3 days
- Authentication: 1-2 days
- Bank transfer: 3-5 days
Total payout time: 7-10 business days
eBay
eBay's process varies based on seller status and item value:
- Sale confirmation
- Shipping to authenticator (for items over $100)
- Buyer receives item
- Payout initiation
Timeline:
- New sellers: Up to 21 days hold
- Established sellers: 3-5 business days after buyer receipt
Web3 Alternative: METAZ
METAZ (https://blog.metaz.io/) utilizes blockchain technology to streamline the resale process:
- One-time sneaker tokenization
- Instant NFT sale
- Blockchain fund transfer
Key features:
- Tokenization replaces per-sale authentication
- NFT sales provide immediate liquidity
- Blockchain transfers complete in minutes to hours
Total payout time: Instant to 1-2 business days
Payout Speed Comparison
| Platform | Payout Time | Key Factors |
|---|---|---|
| StockX | 7-12 business days | Physical shipping, authentication, bank transfer |
| GOAT | 7-10 business days | Physical shipping, authentication, bank transfer |
| eBay | 3-21 business days | Seller status, item value, authentication for $100+ |
| METAZ | Instant to 1-2 business days | NFT tokenization, blockchain transfer |
Process Breakdown: Web2 vs Web3
Traditional Web2 Process (StockX, GOAT)
- Seller lists item
- Buyer purchases
- Seller ships to platform
- Platform authenticates
- Platform ships to buyer
- Funds released to seller
METAZ Web3 Process
- Seller tokenizes sneaker (one-time process)
- Seller lists NFT
- Buyer purchases NFT
- Blockchain transfers ownership
- Funds released to seller instantly
METAZ: Additional Features
- Custody Service: METAZ stores physical sneakers in a secure, climate-controlled warehouse. This eliminates the need for sellers to ship items after each sale.
- Real-World Asset (RWA) Backing: Each NFT represents a physical sneaker, providing tangible value.
- Reduced Fees: Blockchain technology lowers operational costs, potentially resulting in lower fees for users.
- Scalability: Digital processes allow for more efficient scaling compared to physical authentication and shipping.
- Enhanced Security: Blockchain provides transparent, immutable ownership records, reducing fraud risks.
The Future of Sneaker Resale Happening Now
The integration of Web3 technologies in sneaker resale offers several advantages:
- Faster payouts
- Improved liquidity
- Reduced operational costs
- Enhanced security and transparency
The potential for near-instant payouts and improved liquidity presents a compelling case for sellers. As the market evolves, the integration of blockchain technology may become increasingly prevalent, offering new opportunities and challenges for buyers, sellers, and platforms alike.
Visit www.metaz.io to start the custody process for your sneakers and explore our marketplace today.
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