Crypto-Gin Reimagines NFT Ownership with Akkodis’ Distributed Ledger Technology
The explosive growth of NFTs (non-fungible tokens) – unique digital assets that are generally one of a kind and encoded with the same underlying software as many cryptocurrencies – is creating opportunities for traditional businesses to adopt new business models.
Crypto-Gin wanted to take NFTs to a new level by linking a physical product with a digital NFT. They needed a partner who could help combine their deep expertise in gin with the latest in Distributed Ledger Technology (DLT).
Introduced in 2009 by Satoshi Nakamoto, DLT s a platform that uses ledgers stored, replicated and shared on separate, connected devices in a geographic dispersed network to ensure data accuracy and security.
The Akkodis team worked side-by-side the Crypto-Gin team to develop a dApp (decentralized application) that would enable users to redeem their digital assets into physical products (“phygitals”), like a bottle of gin, while retaining their digital twin as a collectible item.
Akkodis’ solution comprises several key components:
- dApp: Our team helped Crypto-Gin develop an innovative dApp that seamlessly integrates Web2 into Web3, enabling users to redeem their valid NFTs for bottles of gin.
- Digital Twin using NFTs: The dApp includes an explorer for users to check their collections of NFTs, which serve as digital representations of the physical gin bottles. Additionally, users can trade their NFTs, creating exciting new possibilities for the digital asset marketplace.
- Self-Sovereign Identity: Our solution utilizes self-sovereign identity for user identification without storing sensitive data in data silos, ensuring privacy and security.
Technologies & Certifications used:
IOTA Frameworks | IOTA | NFTs | SSI | Angular | Simmer I SO 9001