Creating NFTs for Physical Products

This will open Pandora's Box...

This video explains how NFTs could be created for physical products and what function they could serve. This process has the potential to combat fraud, forgery, counterfeiting, improve supply chain, traceability, establish proof ownership, demonstrate provenance, and securely record transaction history.

NFT has massive untapped potential for application in the physical world. Beyond enabling peer-to-peer interactions for fans and their favorite creators, NFTs can be efficiently deployed for physical assets to streamline asset representation and authentication.

What is an NFT?
A non-fungible token (NFT) is a specialized type of cryptographic token representing something unique, like a domain name, a limited-time skin for a video game, or other digital properties owned by a user. Therefore, the NFTs are not mutually interchangeable, meaning an individual might trade ownership of a domain name for ownership of a rare character skin or a cryptocurrency. NFTs differ from cryptocurrency; NFTs are entirely non-fungible, and they cannot be traded for something identical. Cryptocurrency is fungible and is exchanged for something that is of equal or identical value.

#nft #rolex #rwa #creatornow

Primer on Real World Assets

NFT Auction Site

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--- Business Inquiries ---

[bastienforet]

I transferred a nft that I created on an address protected by a ldger key before freezing it, how to freeze the metadata of this nft? Plse btw thx for all your content

[MinuteMoneyGlitch]

bro if you know the answer please explain? basically my friend is in a Ponzi scheme and he's promoting all sorts but 1 of the items is a watch that makes you money from NFT's just by wearing it?? is this possible it seems to good to be true, thanks.

[natanRox]

Hey! Insightful content on phygital, and I think it would be fantastic if you could feature Another1 in your next video. They're redefining the fashion landscape with their integration of technology and fashion. I'm sure your audience would be captivated by your take on AN1. Looking forward to it!

[lurcherlover]

Hi! What's the benefit to using NiftyMints to mint the NFTs then transferring them to OpenSea, rather than just minting them on OpenSea?

[muddypalmsera]

But why create the NFT for a physical product in the first place?

Owning the NFT isn't more important than the product itself.

[BitcoinAndCryptoCurrency]

excited to be at the beginning of new money

[BitcoinAndCryptoCurrency]

I am going shopping now after this video 💰

[surrealstructures]

“This auction site”. What auction site?

[certseal]

Try certseal! We are building NFT certificates of authenticity meant for artists, collectors, and investors!

[myalxaccount]

I just launched an Alexa skill that allows you to query features of physical NFTs, for example, "Alexa, list my jackets", "What is the size of my white Adidas Jacket", "What is the tyre pressure of my Cube bike". The skill is named My Twin and for the moment only works with Twin NFTs made on the twinu platform. I am happy to assist anyone willing to give it a try and open for feedback!! We are working on physical Twin NFTs and find the space very exciting!

[cloudstrife]

brah created hyperlink to a picture of a physical item and thinks he owns a physical item. if you believe that, I have some land on mars and another galaxy to sell you. oh p.s. imagine thinking putting it on centralized premined permissioned ethereum or polygon known for central party confiscating from users is in any way more secure than a database for ANY data.