March 9th, 2022 - The Algorand Foundation welcomes Sockhodler to the Algorand ecosystem as our latest grant recipient. SockHodler, a seller of premium physically-backed NFT Socks for crypto currency enthusiasts, has been awarded grant funding to support them to make the blockchain more accessible to new users by incorporating it into a seamless experience with apparel.
They've partnered up with SmartSeal.io to provide programmed Nearfield Communication tags that are bonded to the sock fabric. Collectors are able to scan their socks with a smartphone to engage in token rewards programs, and prove authenticity/ownership verified by the Algorand Blockchain. SockHodler aims to bridge the gap between NFTs and physical goods.
SockHodler is currently working on building out a robust ecosystem that includes daily "scan" rewards, raffles, NFT Staking, and a marketplace that incorporates a payment gateway/shopping cart to accept ALGO & the SOCKS Token ASA.
‘The Algorand Foundation has supported numerous NFT projects and marketplaces through our grant program to date and the Algorand community has engaged very positively with the NFT use cases who have joined our ecosystem. Sockhodler is an exciting use case which will bridge the gap between NFTs and physical goods, further educating non-crypto natives on the potential of NFT’s and blockchain. We look forward to our AlgoFam community wearing premium physically-backed NFT socks and enjoying the opportunity to engage in community led token rewards programs through their smartphones’.- Addie Wagenkneckt Head of Global Ecosystems and Technical Operations
If you are interested in submitting a project for support from the Algorand Foundation Grant program, please apply here.