SUKU's INFINITE NFT Marketplace to Auction 1:1 "Crypto Sneaker" NFT by NBA Brooklyn Nets Star Spencer Dinwiddie

MIAMI, July 14, 2021 /PRNewswire-PRWeb/ -- NBA Brooklyn Nets basketball star and Calaxy Co-Founder Spencer Dinwiddie partners with SUKU's carbon-negative INFINITE NFT Marketplace to issue the first non-fungible token (NFT) linked to a physically redeemable collectible. Using SUKU's digital ledger-enabled tag, Dinwiddie has issued his signatured, game-worn K8IROS crypto sneakers. The SUKU ledger verifies and secures the authenticity of this one-of-one NFT drop, available for auction beginning July 22, 2021. All profits from the drop will go to the Dinwiddie Family Foundation, an organization which empowers disadvantaged and at-risk youth through fitness, literacy, and educational programming.

About the Drop:

• The K8IROS "crypto sneaker" NFT will be auctioned as a 1:1 redeemable for the physical collectible.
• The signed production K8IROS sneaker NFTs will be sold as a raffle with the owners entered into a chance to win one of the signed shoes.
• All proceeds from the drop will be donated to the Dinwiddie Family Foundation.

Spencer Dinwiddie, Co-Founder of Calaxy and creator of the K8IROS clothing range, commenting on the sneaker drop, said, "This NFT drop has been in the works for a while, so I'm really excited to see it come to fruition. This can change the game for brands, athletes, and influencers by paving the way for how NFTs can be verifiably linked to actual physical collectibles. This entirely new way of bringing physical collectibles into the digital universe, as mediated by SUKU and Hedera, sets us up to redefine the creator economy as we know it. With all profits going to my foundation, I hope this helps level the playing field for kids and allows them to reach their full potential."

The launch of SUKU INFINITE physical tags and digital NFTs represent a crucial step towards combating the $450 billion-dollar counterfeit sneaker market, using immutably logged IDs that are made traceable on the Hedera Hashgraph distributed ledger. Using Hedera's advanced technologies, SUKU provides a safeguard for suppliers and retailers against fraud and theft, while also ensuring provenance for entrepreneurs, artists, and other creators looking to market their physical goods using NFTs.

Yonathan Lapchik, CEO of SUKU, expressed, "Spencer Dinwiddie is using his platform as an athlete and futurist to spread awareness on the true potential of NFTs, and we're incredibly excited to be partnering with him on his K8IROS crypto sneaker NFT drop. By leveraging SUKU's carbon-negative INFINITE Marketplace, Spencer is showing the world how brands and influencers can bring physical collectibles and merchandise to the digital realm while helping the planet."

Through its partnership with Avery Dennison, SUKU leverages their Smartrac NFC tags to allow for the easy tracing of products through the application of long-range, dual-frequency transponders for product identification and management. Avery Dennison's tags are durable, discreet, and tamper-proof. If someone were to try to remove a tag from a product, the tag's circuitry would break, ensuring that tagged items are always able to be authenticated through the linked digital NFT. Additionally, all NFT mints on INFINITE are carbon-negative, supporting climate-certified projects that reduce carbon emissions in the fight against global warming.

All profits from the K8IROS sale will go to the Dinwiddie Family Foundation to provide programming for disadvantaged youth. The foundation aims to cultivate the next generation of diverse leaders through the Dinwiddie Scholars program, which provides educational scholarships in partnership with the United Negro College Fund (UNCF), America's largest and most effective minority education organization.

For media inquiries, please contact Kili Wall at kili[at]melrose[dot]com.

About The INFINITE NFT Marketplace by SUKU
The INFINITE NFT Marketplace by SUKU is a carbon-negative NFT platform for brands, celebrities, artists, and other creators to deepen engagement with their audience through digital artwork, collectibles, and merchandise. By leveraging Hedera Hashgraph's digital ledger network, the INFINITE NFT Marketplace enables the authentication of digital IDs that endow NFTs with value. Beyond using the energy-efficient Hedera Hashgraph network over less-sustainable networks, the INFINITE NFT Marketplace further offsets carbon emissions by supporting climate-certified projects—like planting trees in the Amazon—ensuring that all NFTs minted on INFINITE support a sustainable future for the planet.

About SUKU
SUKU aims to make commerce more transparent and efficient with distributed ledger powered supply-chain solutions. By leveraging the traceability enabled by distributed ledgers, SUKU provides brands and retailers with the transparency they need to meet the demands of a growing base of conscious customers. To incentivize the participation of small suppliers, SUKU rewards participants with tokens that grant the holder access to key financial services, such as microloans, that are not otherwise available to them. The SUKU team consists of a group of successful entrepreneurs and corporate leaders with a background in supply chain and distributed ledger technology from Deloitte's Blockchain Lab. SUKU is developed by its parent company Citizens Reserve, Inc. headquartered in Los Gatos, California. For more information, please head to http://www.suku.world, engage with us on Facebook, LinkedIn, and Twitter or chat with our team on Telegram.

About Calaxy
Calaxy is the open social marketplace for creators, by creators. Built and backed by a team of visionaries, and spearheaded by co-founders NBA player Spencer Dinwiddie and ex Wall Street financier Solo Ceesay, Calaxy is an entirely new approach to the world of content creators, putting today's fan right at the center of the action.

Calaxy is reimagining the way people use social media: empowering more meaningful and fulfilling fan experiences. The app gives creators the ultimate toolkit to interact with their fans in one place and rewards fans for their engagement.

Harnessing Hedera Hashgraphs' cutting-edge blockchain alternative, Calaxy's open social marketplace creates a fair exchange of value, enabling creators to monetize relationships with their community through Creator Tokens, which fans can utilize for a suite of personalized experiences.

Media Contact

Kili Wall, Melrose PR, 310-260-7901, [email protected]

SOURCE SUKU

Related Links

http://www.suku.world