Since their inception in 2012, NFTs (Non-Fungible Tokens) have long been a source of interest – and profit – for digital artists, collectors and enthusiasts within the cryptocurrency community. Now, a new technology seeks to broaden the scope of NFTs by integrating them into physical products.
New RFNFT® technology links real-life, physical products with digital assets and NFTs through seamlessly embedded NFC (near-field communication) chips which can then be easily redeemed via mobile or PC. Designed and encoded by UK-based CryptoBatesGroup in partnership with NF International Ltd, RFNFT® bridges the gap between physical product and the blockchain, allowing creators and businesses to integrate the full potential of NFTs with their existing product portfolios.
CryptoBatesGroup is no stranger to innovation within the cryptocurrency space. Founded by Adam Bates in 2012, the group has dedicated itself to breaking down educational and cultural barriers by hosting a diverse range of (largely free) educational events and projects such as CoinFestUK and the Crypto Art Gallery. This latest venture shines the spotlight on NFTs by making them more accessible to wider markets beyond crypto enthusiasts, art curators and big businesses.
Traditionally, NFTs have taken the form of digital assets such as photographs, art, videos and audio files. Straddling digital and physical, the RFNFT® technology makes NFTs applicable to a wider range of real-life products – something you could hold in your hand as well as in your crypto wallet.
RFNFT® technology works by integrating an NFC-based chip onto which creators can embed their digital assets. The chip can then be placed into a wide range of physical merchandise including hoodies, caps, posters, socks and more. Once purchased, the buyer can either redeem the NFT (supported platforms include Ethereum and WAX_IO, with more to come), or leave it on the chip as a stored private key (akin to a cold wallet). The NFTs do not expire or have a time limit for redemption. They’re accessible and secure, too: the chips are compatible with the majority of mobile devices as well as via PCs and keys are secured against theft by two-factor authentication.
Though still in development, CryptoBatesGroup and their partners NF Technology Ltd have already built large scale production connections to produce 2 million seamlessly embedded NFC posters using RFNFT® technology, demonstrating the project’s huge scope, ambition and demand.
Beyond that, CryptoBatesGroup is busy with the upcoming launch of its first live project using their RFNFT® technology, a comic book series created by Encode.Graphics. Part physical comic book, part NFC-embedded chips, readers will be able to redeem a unique NFT by interacting with the chip on the comic book.
Here is a Tweet regarding our work with Encode on the Physical Comic books, https://twitter.com/encode_graphics/status/1436531218942681090?s=21
To follow the new developments in RFNFT® technology and the upcoming launch of Encode.Graphics, follow @CBG_RFNFT on Twitter. You can also keep up with new CryptoBatesGroup projects, meetups and events at cryptobatesgroup.co.uk.
Vimeo: https://vimeo.com/531140085
NFC Encoded button which brings the pre-authenticated user to the landing page for NFT-Redeem: https://twitter.com/CryptoBatesGrou/status/1408384396504207362/photo/1
