Ellen Britt for CNT #NFT
In the most recent installment in our series on use cases for NFTs, we looked at the exciting world of gaming. Today, we’ll examine how NFTs can prove that rare Patek Philippes that you purchased is actually what you bought, rather than a knock-off.
Because the blockchain can store all kinds of information about a product, including details about the manufacturing process, who owed the item before, and so forth, you’ll trust that what you are purchasing is exactly what you believe it to be. All this information is permanent and immutable.
But this goes far beyond luxury watches or rare pieces of artwork.
No More Fakes!
The world is awash with fake products such as medicines and foods, all claiming to be something they are not. In the case of medicines or supplements, these fakes could well be endangering people’s health.
NFTs to the rescue here! By tracking and tracing these consumable products, the fakes are going to have a much harder time surviving.
Just scan the product’s QR code to see its entire path, from manufacturing to shipment.