Hip-hop legend Eminem is partnering with billionaire Dan Gilbert in a new online auction company.
The artist, whose real name is Marshall Mathers, will offer shoes from his personal collection for the firm called StockX, the Detroit company announced Thursday.
The company bills itself as the world’s first “online stock market of things” for limited-edition items. Sneakers are the first items StockX will sell.
“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,” said Mathers in a written statement. “When I found out that they happen to be doing it from downtown Detroit, it made even more sense to get involved.”
Beyond sneakers, StockX will plan on other limited-edition products such as handbags, watches and street wear, StockX spokesman Colby Berthune said.
A majority of the collection to be sold will be unworn, Berthune said. There are no plans for Eminem to sign the shoes.
As part of the partnership, Mathers and his longtime manager, Paul Rosenberg, will be investing in the online trading platform.
StockX launched in February and was co-founded by Josh Luber, who serves as the company’s CEO, and Dan Gilbert, founder and chairman of Quicken Loans Inc., majority owner of the Cleveland Cavaliers and owner of a large number of downtown Detroit properties. Recently, StockX closed an investment round that included Silicon Valley investor Ron Conway and his SV Angel fund, and Detroit Venture Partners. Eminem is the first of what is expected to be several high profile investors.
“StockX is already proving that a ‘stock market of things’ is a viable and better way to both buy and sell certain product categories,” Luber said in a written statement. “Eminem’s partnership is particularly meaningful in that he’s a true sneakerhead who genuinely understands the market and is excited to help grow the community.”
The site will “allow buyers to place bids and execute a trade when the seller’s ask price” is met, according to a press release.
To kick off the partnership, StockX is giving away three prize packages:
■Grand Prize: Air Jordan 4 Retro Eminem Carhartt (pairs have sold for as much as $30,000).
■Second Prize: Yeezy Boost Pack — Yeezy Boost 350, 750 and 950 (approximate value $3,000).
■Third Prize: Jordan 1 Pack — Jordan 1 Retro Bred 2013, Retro Chicago 2015, Retro UNC, Retro Family Forever and Retro LA (approximate value $1,750).