Product NFT

1. Overview of Product NFTs

• Product NFTs are a new form of asset that combines a non-fungible token (NFT), a virtual asset, with a physical good or service, such as a fashion designer's Design NFT and an artist's creation, Artwork NFT. Product NFTs can be exchanged for physical products on a one-time basis. This form of tokenization blurs the line between the digital (virtual) and physical (real) worlds, giving users such as individual consumers and influencers the opportunity to take ownership of digital assets while simultaneously holding digital certificates and ownership of physical goods.

• Product NFTs are created by individual consumers and merchants, such as influencers, and are categorized as personal (B2C) Custom NFTs created for their own use, and (B2B) Merchandise NFTs created for sale.

• Product NFTs use original creations, which are high-end materials provided by professional creators such as fashion designers and artists, to provide an opportunity for relatively amateur individual users and non-fashion experts, such as influencers, to participate as fashion creators who create their own style.

2. Key Features of Product NFTs:

• Integrating digital and physical assets:

  • Product NFTs combine digital assets (NFTs) issued on the blockchain and physical goods that exist in the real world into a single ownership. As a result, NFT owners don't just own a digital asset, they also have rights to a physical asset in the real world. Product NFTs can only be traded using DP tokens.

• Transparency and safety of ownership:

  • With blockchain technology, the ownership of Product NFTs and their digital original certificates are permanently recorded on a distributed ledger, which cannot be forged or tampered with. Buyers can transparently view all transaction history related to the ownership of the digital asset, ensuring trust in the authenticity and transfer of ownership of the physical asset.

• Limited edition and scarcity:

  • Product NFTs are issued in limited quantities for the purposes of their creators, such as consumers and influencers, which increases their scarcity and therefore market value. For example, a Product NFT tied to a limited-edition piece of clothing from a particular fashion brand may have a higher value due to its scarcity.

• Extend the user experience:

  • Product NFTs enable users to utilize their assets in both digital and physical environments, providing a richer user experience. For example, in the future, users will be able to utilize their digital assets in virtual reality (metaverse) while wearing or using them in the real world.

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Product NFTs offered by DRESSdio are divided into two main categories.

Custom NFTs and Merchandise NFTs, each with its own unique form and function, allowing creators to combine virtual assets and physical goods in a variety of ways, whether they are consumers looking to use them or businesses looking to sell them.

Merchandise NFTCustom NFT