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Saturday, April 20, 2024

NFT as Proof of Ownership

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Over the past year, our startup has achieved and implemented many interesting things: from a unique kind of airdrop, which was repeated by such exchanges as Uniswap, 1inch, and others to it’s own anonymous coin tokenization system, which Monero is now attempting to implement, to the technology of profitable NFT vouchers on the blockchain, which is still the most unique offer in the cryptocurrency market.

We at the Falcon Project are not yet satisfied with what has already been achieved, we suggest that you study another interesting solution from Falcon.

In our modern world, any kind of contract and in general any human right such as ownership, must have documentary evidence. It’s scary to remember that once, owning dozens or even hundreds of items, required us (in one way or another) to keep stacks of unnecessary papers and folders in our filing cabinets. Now, in the digital age, many companies offer to install a bunch of bulky applications into our phones so that we can somehow confirm the legitimacy of our purchases… Oh yes, and don’t forget to take your cashier’s receipt with you! And even in such cases, storing all this for years, it can be difficult to find this or that document/application when you really need it.

We at Falcon are positive that everyone of us has had such experiences in our lives.

What do we propose to do?

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We present for your consideration a new method using blockchain technology that we have called “Proof of Ownership”. Proof of Ownership will allow you to forget about piles of papers, cashier’s checks and a bunch of cumbersome applications!

You will only need one Ethereum wallet convenient for you that supports all modern token standards.

A small example

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Imagine that Nike (as a fictional example) puts a special insert with a QR code in each box with their wonderful sneakers, after scanning this barcode you will receive a unique digital tokenized copy of your favorite sneakers, which will fully correspond to the original and have full specifications, starting from descriptions of the model and size, ending with the place where they were manufactured and sold. This certificate will allow the company to quickly and accurately identify its clients, know all their preferences by looking at their public address and offer possible warranty service, regardless of where they are.

You only need to confirm ownership of the sneakers by demonstrating their registered digital copy, or by making a signature transaction on the Ethereum network, in case of need or a warranty incident occurs.

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And the most important thing is that this copy will be forever stored in the blockchain until the warranty liabilities remain, or for example, until yourself in 50 years decide to donate or sell these sneakers to any collector having the entire history and proof of ownership available! The blockchain remembers everything!

In the meantime, you should feel free to check out the “Proof of Ownership” implementation with the Falcon Project Silver Souvenir Coin – EnjinX link.

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Each holder of a physical copy of this handmade commemorative jewelry will receive such a certificate as an integral part of it. These will be the first examples of Proof of Ownership!

Collectibles such as rare action figures, comics, clothing, jewelry with unique metadata, and real estate are all examples of items which can utilize this new functionality. Come up with your example and share it with us, we would love to hear your thoughts and ideas!


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