Hip-hop star Marshall Mathers, who is professionally known as Eminem, is collaborating with billionaire Dan Gilbert in StockX, a new online auction company. The rapper will reportedly offer shoes from his own collection for the company.
StockX becomes the first "online stock market of things" for limited-edition goods. The company will sell sneakers as its first items.
"Sneakers have always been a huge interest of mine, for at least as long as I've been rapping, and I'm proud of the fact that I've had so many collaborations with Nike and Jordan Brand," Eminem said in a statement via StockX official blog. "When I found out that they happen to be doing it from downtown Detroit, it made even more sense to get involved."
Apart from sneakers, the company will have other limited edition items like watches, handbags, and street wear. According to StockX spokesperson, Colby Berthune, many items to be sold will be unworn.
Eminem and Paul Rosenberg, his longtime manager, will invest in the online trading platform as part of the collaboration. However, there are no plans for the rapper to sign the shoes he is offering.
StockX started in February under the leadership of Dan Gilbert, founder and chairperson of Quicken Loans Inc., major shareholder of the Cleveland Cavaliers and owner of many downtown Detroit properties, and Josh Luber, the CEO. The company recently entered an investment deal with Detroit Venture Partners and Silicon Valley investor Ron Conway. Eminem is among the many high profile investors in the StockX.
In a written statement via The Detroit News, Luber said that the company is already indicating that a "stock market of things" is a profitable and better way of buying and selling certain items. The CEO acknowledged that their partnership with Eminem is especially significant because he is true sneakerhead who has good understanding of the market and is eager to help grow the community.
The site will enable buyers to place their bids and implement a trade when the price of the seller is met. Watch the footage below for further information on Eminem community support.