Collecting sneakers has becoming a multimillion-dollar industry, with rare limited-edition sneakers selling for many multiples of their retail price on the secondary market.With such interest inevitably come those seeking to take advantage, with the problem of fakes seriously damaging the market.Step forward, Chronicled.The Silicon Valley company has just raised $3.42 million in seed funding, led by Mandra Capital, a prominent Hong Kong-based venture capital firm, to continue development of its system of verifying the authenticity of sneakers by using the blockchain technology that underpins bitcoin.Chronicled’s idea is to create an open-source, distributed and decentralized ledger of sneakers — and other luxury and collectible goods — making it much more difficult for anyone to pass off a fake as real.Chronicled plans to use the blockchain technology to create an anonymous and encrypted registry of sneakers to increase the trust buyers have in sellers.This registry will work with “smart tags” that Chronicled has developed to identify authentic brand sneakers.

Chronicled will work with retailers and manufacturers to help build a trusted network.The smart tags, which can be worn on the outside or inside of the shoe, are encrypted and tamper-proof, according to the company, and can be scanned using a smartphone to show the provenance of the shoes.Collectors will be able to track and display their sneaker collections within the Chronicled app.The company is hoping to launch its product in April and believes there is a huge opportunity to scale the technology beyond sneakers.“Collectible and vintage sneakers are just the beginning,” said Dan Morehead, a partner at Pantera Capital, which also took part in the latest funding round.“Authenticity verification and provenance of luxury goods and other physical items is a huge untapped market, and due to privacy concerns, consumers will want to own the data history associated with their physical property, which is a benefit of a blockchain-based back-end.”A blockchain is a piece of software that allows for the dencentralized, distributed, anonymous and transparent recording of transactions, such as the purchase of a pair of sneakers.

Because it is not controlled by a single person or company, it is inherently more reliable and the technology is being developed for a range of applications, including financial trading, real estate and to record sales of precious stones.Collecting sneakers — and “sneakerheads,” the name given to their collectors — has been a phenomenon since the 1970s, when brands gave limited-edition shoes to the best street basketball players.But it was the advent of the internet and collaborations with stars like Michael Jordan, LeBron James and most recently Kanye West that really kicked off the secondary market for sneakers — a market today estimated to be worth more than $1 billion.Today limited-edition sneaker launches draw huge crowds outside sports stores, and some wait in line for weeks just to get their hands on the shoes before instantly selling them on eBay for four or fives times the retail price.Just about all major sneaker brands are plagued by fakes, including Nike, Adidas and Reebok.

According to Chronicled, up to 75 percent of the sneakers sold on eBay are fakes, and the Economist estimates that fake goods sold each year amount to as much as $1.8 trillion.BusinessBoeing Announces Layoff Months After Trump's Visit Technology5 Unusual Things That Boost Life Expectancy WorldNorth Korean Women Declare War On The US NationalHow To Protect Your Skin From SunMarshawn Lynch, Greats, Chronicled, and Identiv Team Up to Build a "Sneaker of the Future"; Introducing The BEAST MODE™ 2.0 Royale Chukka Los Angeles, CA (November, 25, 2015) - All-Pro NFL star running back Marshawn Lynch and Brooklyn born sneaker company Greats have once again collaborated on the latest Beast Mode™ "Royale Chukka."bitcoin kaufen oder verkaufenTo take this partnership one step further, technology companies Chronicled, Inc.bitcoin blockchain ip

and Identiv Labs have developed an innovative technology that represents the future of sneaker culture and consumer engagement.The Beast Mode™ sneaker is dressed in a smooth Italian nubuck upper and lined with Italian black calf leather stitched with Greats’ signature bar tacks in gold thread.Signature Beast Mode™ "B" branding on the tongue is cut from the leather revealing a metallic gold patent leather underneath, merging the colors of Black & Gold.Gold aglets complement sturdy waxed cotton laces.buy litecoin chinaAll of these details sit upon a stylish black Margom sole.armory bitcoin not foundOn the lateral of the shoe is a subtle gold stamped BEAST MODE logo.how much litecoin can i mine a dayThe sneaker will be made available on Black Friday, and is equipped with a smart tag that can be scanned with an iPhone or Android device to display the limited edition number and unforgeable digital profile assigned to each pair.ethereum prison key

Consumers can interact with exclusive content featuring or produced by Marshawn and Greats.A customer who receives a pair of Beast Mode™ 2.0 Royale Chukkas can claim the pair into their digital collection on the Chronicled App, as well as interact with others who acquire the sneaker."Our technology presents a unique value proposition a customer base, that demands authenticity for collectible sneakers," said Ryan Orr, Chronicled CEO."For the first time ever, collectors experience a new way to interact with the sneakers that they love from their mobile device.In the future, we believe that our innovative use of mobile, encrypted microchip, and blockchain technologies will lead to a whole new class of provably authentic and interactive products—i.e.smart toys, smart shoes, smart handbags, smart jackets."The core technology contained in the Beast Mode™ sneakers represents two noteworthy technology breakthroughs.First, the smart tag includes an encrypted dual NFC-BLE chipset, developed by Identiv Labs, utilizing near field communication (NFC), low-energy Bluetooth (BLE), and digital certificates.

"The future of consumer interaction is here and Identiv is excited to be a part of it,” said Phil Montgomery, Identiv CPO.“Identiv is working with Chronicled to develop smaller, flexible versions of these chips that can be affixed to sneakers, handbags, paintings, or pieces of furniture."Second, each chip is written to an open registry created on the Ethereum blockchain, which is a distributed ledger building on the core technology behind Bitcoin.The blockchain registration functions as a digital deed of title for the Beast Mode™ sneaker that cannot be forged, but can be transferred in the event of a sale or trade, proving authenticity and provenance of the sneakers into the secondary market.Beast Mode™ is the lifestyle and apparel brand of NFL star running back, Marshawn Lynch.Beast Mode™ includes head to toe performance and streetwear inspired clothing, underwear (through a partnership with PSD), headwear (through a partnership with New Era), and more.Growing up in Oakland, Ca, Marshawn was a four-sport high school star excelling in football, basketball, track and wrestling.

His talent led him to the University of California where he became the school's second all-time career rusher.The NFL took notice and the Buffalo Bills drafted Lynch in the first round of the 2007 NFL Draft.In the 2013 season, Lynch was a large factor in bringing the Seattle Seahawks to their first Super Bowl victory.More recently, Lynch and the Seahawks agreed to a 2-year contract extension, effective this season.is a technology company based in San Francisco, founded in September of 2014.The Company is developing a platform that ensures 100% authenticity of consumer products.Products are tagged, registered, verified, and traded via a mobile app.The Chronicled platform incorporates Smart Labels, an open registry, and a mobile app to document and guarantee product authenticity, ownership, and provenance.Chronicled will begin rolling out its consumer product in selected U.S.cities in fall of 2015. Greats is the first men’s sneaker brand to be "Born in Brooklyn.""Greats is passionate about building the best footwear in the game at the best price.