Some sneakers could be a better investment than gold, according to HuffPost, and an IU alumnus founded a platform to capitalize on the sneaker market and help shoppers.
KickPredict, a bidding platform for purchasing sneakers, is working to eliminate the barriers of online shopping for newly released shoes aftermarket. IU alumnus Robert Mulokwa is the founder and CEO of KickPredict, a platform to make life easier for people who collect sneakers. Mulokwa said he wanted to allow everyone the opportunity to easily trade on shoes no matter where they are or who they are.
“There should be an easier way,” Mulokwa said “Everyone should not have to become a reseller, physically moving around products, if they’re only buying them for the sole purpose of selling them.”
Users who take on paid positions come to the platform to hold trade positions against one another and debate on the fluctuation of sneaker prices, Mulokwa said. These users decide if the average price of 20 sales on StockX, a live marketplace for exclusive sneakers, will be higher or lower than the line they set estimating what the price will be. With this, KickPredict’s system matches competitors against each other, and once the bidding is over, the winner is paid out and can move on to the next deal. Mulokwa said this is also a completely hands-free process, meaning users of KickPredict do not touch the product before the buyer, making it safer for those buying shoes from traders than other bidding platforms.
When it comes to sneaker reselling, there are three barriers, Mulokwa said, which include needing to have a plug, or someone who backdoors you products — and this may not be legal, needing a bot, or rigged mechanism, which fools sneaker markets and helps you get shoes quicker but is expensive, and having a large amount of money you’re willing to spend on shoes. Mulokwa’s platform is helping eliminate these barriers when it comes to investing in sneakers, he said. He considers his system to be revolutionary as he drives sneaker speculation into the 21st century.
All users only need to use PayPal and can start with only $10. Users also receive 80% of returns when they make a successful trade on shoes. All participants need to get started is a little knowledge about kicks. The company is becoming attractive for college students which has grown to be KickPredict’s target audience, Mulokwa said.
KickPredict has been growing since it went live almost seven months ago. The platform has attained use in 10 countries and four continents, Mulokwa said. One of his top users made $5,000 in profit, and Mulokwa said the platform is always hiring and recruiting those who love shoes and numbers. KickPredict is currently looking for student ambassadors to learn about the aftermarket and to promote the site, he said. People can apply by emailing Mulokwa at email@example.com or messaging through KickPredict’s Instagram.
IU senior Chayce Rowe has had a passion for collecting and purchasing shoes since 2013. An increase in the resell market has made it harder for Rowe to acquire shoes for retail prices, he said, so he resorted to frequently buying shoes off of the GOAT and StockX sites.
“Recently the resell market has shot up astronomically within the past couple of years, and it’s been harder to get shoes for retail because of the demand. I myself hate waiting for shoes if I can’t find them fast enough on my hunt, so I do buy shoes off of GOAT and StockX pretty frequently. I really only purchase shoes that I believe will hold their value,” Rowe said.
Rowe said he felt the KickPredict system made sense and could appreciate how the system removes the hassle of hunting for reasonably priced shoes on your own.
“If there’s a shoe that doesn’t have a high resale value you might be better off just paying for it yourself,” Rowe said. “If you have a shoe that is offered below market value but has a high resale value, this app will provide a great way to get a shoe at a good price.”