I found this thread helpful when trying to solve the Nitro stand problem so I thought I'd add something that worked for me for a clean, inconspicuous look. Yes, my guitars are often in cases due to my kids, but i have a 5-guitar stand i wanted to wrap.
Tip: BOXING HAND WRAPS. Get 100% cotton (not Everlast, those are poly-cotton blend) for about $8. I then bought $4 of velcro from Home Depot .
1) at the end of wrap is the 'male/female' velcro stitched in. i cut off the 'female' velcro.
2) on the bottom of the stand foam, at the end, i simply stuck some of the 'female' velcro.
3) then simply wrap the foam tight all the way to the end until the boxing wrap velcro ends.
* this gives you flexibility to adjust length and thickness and get in all the nooks that your stand may have. like wrapping bicycle handlebar tape, if you're familiar.
* i also looked into 100% cotton ribbon from the fabric store but its $4/yard and you need 10yards ($40). 2 packs of $8 Century Wraps from Dicks was more than enough to wrap a 5guitar stand.
Hope this might help somebody out there that is OCD about guitar finishes and petrified of screwing up a nice nitro guitar!