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Satoshi Studio Is Putting Sneakers on the Ethereum Blockchain

Satoshi Studio has created the ultimate pair of sneakers for crypto fans: “Satoshi_one”, which it says is designed in France, uses materials from Italy, and made in Portugal.

According to a blog post by Satoshi Studio on July 6, this European startup was formed by a group of friends from different backgrounds who were all “all involved in the tech / blockchain space.”

They wanted to create a brand focused on high end clothing and shoes for tech lovers, and they decided to start with sneakers because “shoes are a way for people to show the world who they are and what they believe in.”

Enter Satoshi_one.

multiple views of dark blue satoshi_one sneakers.jpg

Each pair of Satoshi_one sneakers comes with “a label holder containing a pre-configured NFC chip; this gives “the user a secure and fun way to Buy, Collect, Sell and Recycle authentic Satoshi Studio products.”

Satoshi Studio says that storing the digital identity on blockchain is “the best solution against counterfeiting for all physical products.”

In the case of these sneakers, digital identity means information about materials, origin, and model. The digital ID corresponding to a pair of Satoshi_one sneakers is recorded on the Ethereum blockchain “as soon as it is produced by the factory.”

Apparently, the NFC chip that you receive with each pair of sneakers has “a unique ID that allow you to transfer the ownership of the smart contract to your own Ethereum wallet.”

The Ethereum blockchain will be recording “the interactions of the product during its lifespan.” If you send back an old pair of Satoshi_one sneakers to Satoshi Studio for recycling, you will be rewarded with Satoshi Studio Tokens that you can use in the future for buying new products.

Initially, Satoshi Studio tried selling these sneakers via crowdfunding site Indiegogo and its own online store, but later replaced the Indiegogo campaign with a Kickstarter campaign that started on July 15.

Since then, the Kickstarter campaign has raised over 31,536 euros (approximately, $35,098), achieving 200% of its fundraising goal within the first 24 hours.

At press time, if you pledge EUR 105 (roughly USD 117) on Kickstarter, you can get a pair of Satoshi_one sneakers and pay for them with fiat currency. However, if you order from the company’s online store, the current special offer price is $119 (the regular price is expected to be $179), and you will be able to pay via either fiat currency or cryptocurrency (Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and USD Coin).

All Images Courtesy of Satoshi Studio

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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