How NFTs Protect Luxury Brands
Imagine scrolling through your favorite online store and seeing a bright red sign.
You continue scrolling and notice that the luxury bag you’ve always wanted to buy is on sale—50% discount. There are only five left in stock, and the numbers are going down. Three. Two.
Only one left in stock.
The bag is worth a thousand dollars—still pricey, but it’s half the original price. And it’s the last one. There won’t be any other opportunities like this.
You click buy and pay using your credit card. It’s okay. You deserve this. After all, you worked so hard for it.
Your bag arrives after two days, and you can’t help but tear the packaging open in excitement. You touch the bag. It’s smooth, velvety. Fancy. But wait, there’s something wrong. The color of the logo is slightly different. The stitching is crooked. You check the tag. It’s filled with grammatical errors and spelling mistakes.
Upon searching the brand’s official website, your fears are confirmed. You just paid a thousand dollars for a fake bag. That’s not all. After further research, you learn that most counterfeit products are unethically made from sweatshops that rely on child labor.
Not only were you cheated on your purchase, but you also somehow supported unethical practices around the world.
And the worse part? The seller won’t give you a refund.
As painful as this is, you’re not the only one—thousands of people around the world have experienced accidentally buying a counterfeit product, too.
Through blockchain and IoT technologies, Real Items helps prevent this from happening by turning products into “Phygitals.” Our technology gives brands confidence in their intellectual property and offers customers trust in their purchases.
Real Items NFT solution
Phygitals are the convergence of the physical and digital world. Phygitals prove product authenticity, increase product market value, and create an exceptional experience for consumers. Real Items has successfully created phygitals for products such as KN95 masks, Cannabidiol (CBD) products, and Jamaican Blue Mountain (JBM) coffee.
Each Real Items Phygital product comes with a digital identity called a Non-Fungible Token (NFT). NFTs are special because they are backed by a global, decentralized accounting system called the blockchain. Information on the blockchain is immutable, meaning that any information written to it is irreversible.
Because the information is tamper-proof, Real Items NFTs can prove authenticity. This proof of origin helps communicate a product’s true luxury, and increase its market value.
To claim digital ownership of your product, look for the QR code powered by Real Items. Scan the QR code with your smartphone camera and it will immediately lead you to the Real Items platform. Once you're in the platform, simply type the one-time pin to gain access to your product's information.
Since counterfeiters do not take accountability, they often create dangerous products. According to a report by the United Nations Office on Drugs and Crime, knockoff toy producers do not have to worry about cancer-causing plastics, choking hazards, and paint toxicity. Fake sunglasses do nothing to protect the wearer’s eyes from ultraviolet (UV) radiation. Counterfeit cosmetics may include toxic ingredients such as mercury, lead, cyanide, and paint-stripper. In this way, the rise of counterfeits worldwide are detrimental to global health.
Real Items NFTs give consumers security and peace of mind that their purchases are authentic, safe, and responsible.
Turn customers into loyal fans
People don’t buy “what” you do; they buy “why” you do it. Sure, consumers come and go. But to keep customers coming back, enterprises have to build trust. Think about Apple and its concept of customer experience. Because the company established excellent service and trust in their customers early on, many Apple users have become loyal fans of the product. They are confident that the brand’s products are excellent and worth the expensive price tag.
The same goes for luxury brands. Plenty of consumers do not trust self-reporting. Brands may promote their products as eco-friendly, but without proof, they could lose their customers’ trust in the long run. Plastlo, a Czech company that creates sustainable furniture, has proven to consumers that their products are authentic by putting their digital records on the blockchain.
Real Items NFTs enable trust by allowing customers to verify information with a single scan. Customers can personally check that their purchases, without a doubt, are genuine and conform to the highest ethical values. When companies give customers security and peace of mind, they eventually build trust. And when customers trust a brand, they turn into raving fans.
Eternal vigilance is the price of freedom. People have to go the extra mile to research and ensure that their online purchases are authentic. Imagine if you don’t have to go through all that. What if every product is tagged with a label that allows you to verify a product’s authenticity personally? This is all made possible by Real Items technology.