Traderblock, a sneaker trading platform, said it has attracted over 100,000 collectors to the app since its launch in May 2021. Traderblock is a trade-only business that allows collectors to trade with each other via fantasy-sports style bartering.
The Austin, TX-based start-up also reported that its total number of sneakers in members’ “closets” has grown to more than “500,000 pairs over the past six months,” with a “gross market value of more than $200 million.” Completed trades, it said, have grown more than “150 percent quarter-over-quarter” since its launch.
“The Traderblock community is a mix of old school and new school sneakerheads,” said Traderblock CEO and co-founder Mbiyimoh Ghogomu, “and while many of them express little to no desire to sell their kicks on the existing marketplaces, they love being able to explore other people’s collections and negotiate trades. We’re offering an entirely new and exciting approach to collecting, and as a result our member growth and community engagement has been off the charts.”
The other co-founders are Darren Smith and Tony Malveaux.
Last year, Traderblock received funding from Google for Startups Black Founders Fund. This investment group includes sneaker industry veterans Jason Mayden, a former Nike footwear designer who is now VP of Fear of God Athletics, and Keith Houlemard, a former president of Jordan Brand. The company also recently closed a round of seed fundraising led by Trinity Ventures and Concrete Rose Capital.
