NFT for Authenticating Luxury Goods
Problem
The adoption of NFTs across the Luxury Goods Industry is essential for scalability of Cardano in RealFi.
Solution
Much of the NFT frenzy revolves around digital assets, and competing companies addressing physical luxury goods lack client data anonymity.
Total to date
This is the total amount allocated to NFT for Authenticating Luxury Goods.
About this idea
The 2019 Cardano Summit brought about the partnership between IOHK and New Balance to utilize the blockchain in ensuring physical product authenticity and assisting on the crackdown of counterfeit goods. Fast forward to 2021, luxury umbrella corporations are coming together to try and find an NFT-based solution to package to their client base.
Example: LVMH, Prada Group, and Cartier came together on April 20th, 2021 to form the Aura Blockchain Consortium ("supporting the first global blockchain dedicated to the luxury goods industry" - https://auraluxuryblockchain.com/#about ). And Richemont, an associate member of the Arianee blockchain ( https://www.arianee.org/members )
The concerns I'm seeing from Aura and Arianee that I believe Cardano is built to tackle are; lack of transparency (Aura) and lack of NFT client anonymity (Arianee).
I wish to propose collaborating with the IOHK and New Balance team to extend/scale the brand partnerships, providing the blockchain's ability to supply NFTs to the purchase of physical luxury goods to aid in authentication for re-sell and long term asset ownership in a discrete manner.
Cardano/New Balance steps:
"For the New Balance OMN1S shoes, customers will receive a Realchain card with an embedded identity and security chip. Upon receiving the shoes, the customer can then use the New Balance app to scan a Quick Response code on the card with the app and will be prompted to scan the chip within the card and that will authenticate the shoes on the IOHK Cardano blockchain.
Customers can then claim ownership of the shoes by entering a code printed on the tongue of the shoes into the app. From this point on, the ownership of the shoes is secured to the owner using the New Balance Realchain blockchain platform." -https://siliconangle.com/2019/10/17/sneakers-meet-blockchain-new-balance-pilot-shoe-authenticity/
If anyone has more information on any items listed above, your comments are greatly appreciated! We're in an interesting time where even companies with clout tend to apply the 'cart-before-the-horse' method. Here's to hoping we can bring Cardano to their attention so they don't end up with frayed edges in the future and grow client reassurance.
-Ellie
(additional details will be added, requested funds is TBD)
Team
Working with HNWI, there's an apparent need for authentication of physical assets (ex:Hermes Birkin) for re-sell & family heirloom purposes.
