Bored Of NFTs? How About Buying Kanye West's Sneakers For $1M? - Nike (NYSE:NKE)

Are you growing bored with cryptocurrency? Do NFTs generate yawns? Have cannabis stocks lost their narcotizing pizazz? Well, investors with a taste for pop culture and perhaps a secret foot fetish might be interested in Sotheby's auction of a pair of Kanye West's sneakers, which are listed for sale at $1 million.

On Your Toes: The footwear in question is the Air Yeezy sample West wore during the 2008 Grammy Awards telecast for his performances of "Hey Mama" and "Stronger."

While music critics praised West's heartfelt presentation, which came shortly after the death of his mother, Donda West, fashionistas zoomed in on his footwear, which carried the swoosh trademark of Nike Inc. NKE, but bore no resemblance to the brand's retail offerings.

It was later revealed that the size-12 sneakers were the Air Yeezy created by West and Nike Creative Director Mark Smith in the company's "Innovation Kitchen" in Oregon. Nike brought the Air Yeezy to market in 2009, followed by the Air Yeezy II in 2012, but in the following year West realigned his footwear pursuits with rival Adidas ADR ADDYY.

Best Foot Forward: Sotheby's is offering the sneakers for private sale on behalf of sneaker collector Ryan Chang, and the footwear can be viewed at the Hong Kong Convention and Exhibition Centre from April 16-21.

This is not the first time that West's sneakers have been auctioned. Sotheby's website stated they were "originally sold as ‘Grammy Worn' in benefit of a charity Nike frequently supports — the Doernbecher Children's Hospital." The auction house also offered a photographic analysis to confirm the item for sale are the same sneakers West wore 13 years ago for the Grammy Awards. The auction includes a custom-lasered wooden box with a design and etching by Nike's Smith.

(Photo courtesy Sotheby's.)

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