NBA Brooklyn Nets basketball star and Calaxy co-founder Spencer Dinwiddie announced today SUKU The carbon-negative INFINITE NFT market issued the first non-fungible token (NFT) associated with a physically redeemable collection.
Using SUKU’s digital ledger tag, Dinwiddie released his signature and K8IROS encrypted sneakers for the game. The SUKU ledger verifies and ensures the authenticity of this one-to-one NFT drop, which will be auctioned on July 22, 2021.
All profits from the decline will be used for Dinwiddie Family Foundation, An organization that empowers disadvantaged and at-risk youth through fitness, literacy, and education programs.
- K8IROS “Encrypted Sports Shoes” NFT will be auctioned as a 1:1 redeemable physical collection.
- The signed production K8IROS sneakers NFT will be sold as a raffle, and the owner has a chance to win one of the signature shoes.
- All proceeds dropped will be donated to the Dinwiddie Family Foundation.
“This NFT decline has been going on for a while, so I’m very happy to see its results. This can pave the way for verifiable links between NFTs and actual physical collections, thereby changing the rules of the game for brands, athletes, and influencers. This new way of bringing physical collections into the digital world, facilitated by SUKU and Hedera, allows us to redefine the creator economy as we know it. All profits will be donated to my foundation, and I hope this will help The children create a level playing field so that they can reach their full potential.”
– Spencer Dinwiddie, co-founder of Calaxy and founder of K8IROS
Tribe + K8IROS
The introduction of the SUKU INFINITE physical label and NFT represents a step towards combating the US$450 billion counterfeit sneaker market, which can be used in Hedera Hashgraph distributed ledger.
SUKU uses Hedera’s advanced technology to provide suppliers and retailers with protection against fraud and theft, while also ensuring the provenance of entrepreneurs, artists and other creators who want to use NFT to market physical goods.
“Spencer Dinwiddie is using his platform as an athlete and futurist to spread awareness of the true potential of NFTs. We are very happy to work with him to develop the K8IROS encrypted sneaker NFT drop. By leveraging SUKU’s carbon-negative unlimited market, Spencer is showing the world Showcasing how brands and influencers can help the planet while bringing physical collectibles and merchandise into the digital realm.”
-Yonathan Lapchik, CEO of SUKU
Through the cooperation with Avery Dennison, SUKU uses its Smartrac NFC tags to identify and manage products through the application of remote dual-frequency transponders, and easily track products.
Avery Dennison’s labels are durable, discreet and tamper-proof. If someone tries to remove the tag from the product, the tag’s circuitry will be damaged, ensuring that the tagged item can always be authenticated via the linked digital NFT. In addition, all NFT mints on INFINITE are carbon-negative and support climate-certified projects to reduce carbon emissions in the fight against global warming.
All profits from K8IROS sales will be donated to the Dinwiddie Family Foundation to provide programs for disadvantaged youth.The foundation aims to cultivate the next generation of diverse leaders through the Dinwiddie Scholars program, which is United Negro Academy Fund (UNCF), the largest and most effective minority education organization in the United States.