Kanye West’s ‘Grammy Worn’ Nike Air Yeezy 1 prototype shoes have been bought for a record $1.8 million, and shoppers will soon be able to buy a share of them.
The Nike Air Yeezy 1 prototypes, which were revealed during the artists Grammy performance in 2008 for the first time, have been bought by sneaker-investing platform RARES.
Their $1.8 million public sale by Sotheby’s smashed the previous record of $560,000, held by Michael Jordan’s 1985 Air Jordan 1s.
RARES, a fractional ownership platform specialising in valuable sneakers, will now allow fans to buy and trade shares in the iconic shoes.
“Our goal in purchasing such an iconic shoe – and a piece of history – is to increase accessibility and empower the communities that birthed sneaker culture with the tools to gain financial freedom through RARES,” RARES co-founder and chief executive Gerome Sapp said.
The platform will reportedly launch sales of the shares on June 16, and users can “reserve a spot” to buy a share in the world’s most valuable sneakers.
Shares generally sell for between $15 and $20 on the platform and are approved by the SEC as investments allowing for collective ownership of the shoes.
The sneakers were the first pair of what has now become one of West’s most lucrative projects,with the Yeezy brand (which moved to Adidas in 2013) recording around $1.7 billion in sales last year.