Market Overview

StockX Teams Up With The Wu-Tang Clan To Launch A 'Charity IPO'

Share:
StockX Teams Up With The Wu-Tang Clan To Launch A 'Charity IPO'

StockX and The Wu-Tang Clan are partnering for a good cause.

The sneaker stock market platform and legendary hip-hop group are teaming up for a charitable IPO under the code name "C.R.E.A.M." — or Charity Rules Everything Around Me. 

The IPO, which kicked off Tuesday and runs through 11:59 p.m. Eastern time on Friday, March 16, gives fans who make a $10 donation a chance to win autographed clothing and accessories from the Grammy-nominated group. The funds raised will directly benefit the Wu-Tang Foundation, which supports children from marginalized and neglected areas.

“Working with StockX makes perfect sense because they have been doing great work in the celebrity charity space for a while,” said Oliver “Power” Grant, co-director of the Wu-Tang Foundation. “A joint venture like this has the potential to positively expand the foundation’s efforts and reach in communities.”

This is not the first time Detroit-based StockX has partnered with hip-hop legends for a good cause. In December, the platform teamed with Eminem on the re-release of the Jordan 4 Encore, which went on to raise over $200,000 for the Marshall Mathers Foundation. StockX has sold donated shoes from LeBron James, Steph Curry, Snoop Dogg, 2 Chainz, Pharrell, Virgil Abloh and Karlie Kloss to benefit various causes.

Three charity campaigns raised nearly $700,000 in 2017, StockX CEO and co-founder Josh Luber said in a statement.

“With the launch of charity IPOs we can turn one-of-a-kind and highly sought after celebrity products into real dollars that directly help those in need.”

Each donation earns an entry to win, and eight winners will be selected to pick the prize of their choice. To donate, visit https://stockx.com/charity/wu-tang.

Related Links: 

Adidas Continues North American Tear With 31% Sales Growth

Detroit-Based StockX, Shinola Partner On Watch IPO

Disclosure: StockX is a member of the Quicken Loans family of companies. Quicken Loans Chairman Dan Gilbert is an investor in Benzinga.

Photo courtesy of StockX.

Posted-In: Josh Luber Oliver StockX Wu-Tang ClanNews Best of Benzinga

 

Related Articles

View Comments and Join the Discussion!

RBC: AMC Networks Needs More Than Zombies To Hit 2018 Targets

The Challenges Oculus And Google Lawyers Expect For AR, VR Projects