Satoshi Studio Unveils Satoshi-One Sneakers on the Ethereum Blockchain

August 6, 2019 / by Crypto.IQ

Satoshi Studio Unveils “Satoshi-One” Sneakers On The Ethereum Blockchain For Crypto Enthusiasts 

Satoshi Studio is offering its crypto enthusiasts a pair of sneakers that they call “Satoshi One.” The ultimate sneakers are designed in France and made in Portugal using materials sourced from Italy. 

Satoshi Studio creating high-end sneakers 

On July 6th, Satoshi Studio indicated in a blog post that the European startup is an idea born by friends drawing from various backgrounds with interests in the blockchain tech space. The friends were determined to create a high-end fashion brand that offers shoes and clothing to crypto lovers. To begin with, the group settled on sneakers since having nice sneakers is a way of showing people what you believe. 

A pair of the high-end Satoshi sneakers has a label holder with a pre-configured NFC chip that offers the users a fun and secure way of buying, collecting, selling as well as recycling genuine Satoshi Studio products. According to Satoshi Studio, storage of product ID on the Ethereum blockchain is one of the best ways of dealing with counterfeiting of products.

Satoshi-One sneakers have digital ID

For instance, in the case of the Satoshi-One sneakers, the storage of digital identity refers to the information regarding model and origin as well as materials. As soon as the shoes are produced in the factory, the information is stored in the NFC chip. A corresponding unique digital ID is also created and then entered on the Ethereum blockchain through a smart contract. 

The NFC chip that comes with the sneakers has the unique ID that will enable you to transfer ownership of the smart contract to your personal Ethereum wallet. Once the shoes get old, and they are sent back to Satoshi Studio for recycling the user, through their connected digital ID, will then be compensated with Satoshi Studio Tokens. You can use these tokens to make purchases in the future on the company website. 

Sneakers available on Kickstarter and online store

 

Satoshi Studio tried to sell the sneakers through its online store and crowdfunding site Indiegogo, but on July 15th they replaced Indiegogo with a Kickstarter Campaign. The Kickstarter campaign has been a revelation for the sneakers and so far has managed to raise around $35,098, which is around 200% of its funding target within a day. 

For crypto lovers who want to purchase the Satoshi Sneakers, they can order from Kickstarter for around $117, and they can pay using fiat currency. Alternatively, you can order from the online store where they are selling at $119 and pay through cryptocurrency or fiat currency. It is expected that when the sneakers launch officially in October, they will be retailing at $179. 

Although Satoshi Studio is the first to make a move with a blockchain associated sneaker, they are nonetheless not the first to explore the space. Nike, for instance, has already trademarked an online store they call Cryptokicks which implies that Nike will soon have a shoe line on the blockchain.