VIDT Datalink’s backed NFTs connect the physical with the digital

VIDT Datalink’s technology allows it to authenticate high-value objects like rare paintings, luxury watches and batches of oil. It also records the provenance of each item to prove ownership.

VIDT Datalink, a leader in connecting physical and digital data, has yet another use-case. The Netherlands-based security experts managed to improve their technology and use it to protect the Midas Metaverse Collection of multiple Rolexes.

VIDT Datalink architecture introduces a backed NFT(bNFT). This allows the certificate for authentication to be linked to a unique NFT, so authenticity, provenance, and ownership can not be disputed. The NFT is ‘backed by’ a real world asset.

Tested in a use-case

VIDT Datalink already demonstrated this use-case using an Audemars Piquet, and other Rolexes. Experts first confirmed the authenticity of the watches. Then detailed descriptions and macro photos were added to a certificate confirming authentication, which was then anchored to the Blockchain.

The digital fingerprint, or hash of certificate, was then added to a new minted NFT. It was stored in the digital wallet belonging to the watch’s owner. This provides immutable digital proof that the watch is the owner.

The Midas Metaverse Collection

The Metaverse is hot right now. The Metaverse includes well-known projects such as Decentraland and The Sandbox.

The Metaverse is a virtual version of many aspects of the real world. It aims to replicate ecommerce and gaming and make these goods available in the virtual realm at lower prices and with greater accessibility.

VIDT Datalink is vital in establishing links between the virtual world and real world. These links are permanent and binding thanks to its technology.

In the luxury watch industry, all ownership and authentication data can be stored virtually as an NFT. While in the real world, the owner may still wear their watch knowing that the NFT links to it and protects it against copying and proves its ownership.

VIDT Datalink technology now protects the Midas Metaverse Collection. This is a brief description of some watches from this collection.

  • In 1964, the Rolex King Midas was one of the most expensive watches in gold. It was one of the most expensive watches of its time and Gerald Genta designed it to be worn on the right wrist as a tribute the legend of King Midas, who had the golden touch.
  • The Explorer 2 1655 watch was designed for those brave men and women who braved the dark corners of caves, and ventured into the long nights at the poles. Its nickname, “Freccione”, is Italian for “arrow”, and its distinctive orange-shaped hand. Although Steve McQueen was said to have owned one of these watches although there is no photograph of him wearing it,
  • A very few people were also able to own the 1964 Milgauss. This included Swiss scientists working at CERN, a nuclear research facility. They needed a watch that could withstand the magnetic fields they encountered in their work. The watch was fitted with a soft iron cage that acts as a “Faraday” cage, shielding it from magnetic disturbances.

Partnerships

VIDT Datalink has formed strategic partnerships to make the most of the potential synergies between them. First, Morpheus Network focuses on strengthening trustworthiness in supply chains. It makes them more transparent, secure, and guarantees their integrity. VIDT Datalink has been working with Morpheus Network towards this end and is exploring possible use cases to develop PoCs or MVPs.

WordProof, another important partner, has proven to be invaluable for validating online content. VIDT Datalink validates physical content. This is a great example of what WordProof can do for online content validation. VIDT certifies and secures physical watches. Wordproof technology anchors online content such as product pages and legal documents.

VIDT Datalink, along with other partners, is also working with Kucoin to create the Guardian Star game.

Conclusion

Kevin O’Leary is a billionaire who has been investing more of his wealth in crypto projects.

The watch industry, as you might know, is one of the most rapidly growing asset classes in the world. We don’t have NFTs to authenticate or for insurance purposes. Our secondary market is multi-billion dollar in trading fine timepieces. That is what we want, and that is what the watch industry wants.

VIDT Datalink already provides the technology that will make O’Leary’s dream come true. The blockchain allows for microscopic imaging of real-world objects like watches and diamonds. This, along with all their provenances and ownership data, solves fraud and ownership problems once and for all.

Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

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https://cryptodaily.co.uk/2022/01/vidt-datalink-backed-nfts-connect-the-physical-with-the-digital