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GOAT was founded by Eddy Lu and Daishin Sugano in July 2015. [1] The idea for the platform was inspired by a purchase of sneakers by Sugano which turned out to be fake. Lu and Sugano launched GOAT as an online sneaker platform that would authenticate purchases to ensure no counterfeit shoes were sold.
Consumers started to collect, trade and resell sneakers in the 1970s, and the sneakerhead subculture came to prominence in New York City during the 1980s. Sneakers such as the Adidas Superstar and Puma Suede were popularized by b-boys and hip-hop artists, [4] and Nike's Air Jordan line revolutionized the industry with its marketing linked to superstar basketball player Michael Jordan.
The shoes were reviewed by many, and were claimed to be the "Collaboration of the decade". [4] The shoes have been resold for higher amounts than the original prices, with the Air Jordan 1 being sold for more than ten times the original price. Shoe resellers became banned and denied service from shoe stores over possible reselling of shoes. [19]
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With 25 seconds left, Jordan made a 3-point-game-winning basket. The Bulls went on to win the NBA Finals in game 6. [2] The shoes that Jordan wore in game 5 became known as the "Flu Game shoes", even though it was later revealed in The Last Dance that Jordan was suffering from food poisoning during the game. [1]
Jordan scored 37 points in the contest. After the game, Jordan gifted the shoes to ballboy Preston Truman, who assisted with the visiting team's locker room. The shoes get their name from the documentary miniseries The Last Dance, which focuses chiefly on Jordan and the 1997–98 NBA season. The shoes were sold by Truman in 2020 for US$215,000.