What’s METAZ Sneaker Custody All About?
Sneaker Custody is a service we’ve developed at METAZ to address the logistical challenges faced by sneaker collectors and resellers. It provides free storage for unworn, deadstock sneakers in climate-controlled vaults located in Korea and the US. Upon receipt and authentication, each pair is assigned a digital token that represents ownership.
This token allows users to trade their sneakers on our platform without the need for physical handling or shipping. Our service has grown steadily, with over 890 pairs secured in our vaults as of July 2024, as noted in our community update on X.
Why Storage Matters
For those managing a sneaker collection, storage often becomes a limiting factor. Residential spaces—whether closets or basements—rarely offer sufficient room or environmental control. Fluctuations in temperature and humidity can degrade sneakers over time, leading to issues like yellowed soles, material breakdown, or damaged packaging, all of which reduce resale value.
Our vaults are designed to counteract these risks. They maintain consistent climate conditions to prevent deterioration, with each pair stored individually to avoid dust accumulation or physical wear. Original packaging is preserved as well, a detail that significantly impacts collector value. This service is provided at no cost to users—no subscription fees or hidden charges—offering a practical solution for maintaining a collection without added expense or effort. Learn more about preservation in our blog post on maintaining your sneaker collection.
Streamlined Trading Through Digital Representation
The digital token system is a core feature of Sneaker Custody, enhancing the efficiency of sneaker transactions. Once a pair is authenticated and stored, we issue a tokenized sneaker—a digital representation of ownership. This token can be listed and traded on the METAZ marketplace instantly, eliminating the need for physical shipping or handling. The sneakers remain in the vault until a buyer requests delivery, ensuring they stay in mint condition throughout the process. Details on this process are covered in our post on understanding tokenized sneakers.
This approach delivers several benefits. Transactions occur in real time, enabling users to engage with a global market without logistical delays. The preserved condition of the sneakers—protected from transit-related wear—supports higher resale values. Additionally, the immediacy of digital trading facilitates maximum price discovery, as sellers can access worldwide demand and adjust pricing based on real-time market trends.
Financial Benefits and Future Potential
From a cost perspective, Sneaker Custody is structured to maximize user returns. Our platform charges a 3% seller’s fee per transaction, a rate notably lower than those of major resale platforms. For comparison, eBay applies fees of up to 13.25%, while StockX’s total fees can reach 19%, including transaction and processing costs. Here’s a breakdown from our fee comparison post:
This lower fee structure ensures sellers keep a larger share of their proceeds. Combined with the vault’s preservation of sneaker condition—crucial for commanding premium prices—this setup enhances profitability. The use of blockchain technology further streamlines operations, reducing payout times compared to traditional platforms, as detailed in our payout comparison.
Beyond immediate trading benefits, Sneaker Custody creates opportunities for additional functionality. By storing sneakers in our vaults, users can leverage their collections as collateral on the METAZ platform. We’re developing a feature that will allow users to secure loans against their tokenized sneakers, providing liquidity without requiring a sale. This option, currently in progress, aims to unlock further value from collections, offering financial flexibility within the same ecosystem.
Stay updated on developments like these through our blog at blog.metaz.io.
Official Links:
Sneaker Resale Marketplace: https://metaz.io/explore
About Sneaker Custody: https://metaz.io/custody
Join Our Sneaker Community: https://discord.gg/metaz