Digital physical goods can be seen as physical products “tied” to digital forms. Encryption research institution 1k(x) explores the use cases of combining digital physical goods with encryption, and takes stock of related attempts and projects. This article is compiled by MarsBit.
Combining chip technology with on-chain programmability provides any physical object with wallet-like capabilities (such as token-controlled access, signing, and asset ownership), unleashing consumer experiences previously impossible. We are excited about this new generation of digital physics because they: bring on-chain interaction into the physical environment; empower any consumer product with agency and reputation; create a new distribution channel for issuers; unlock full-stack utility for consumers.
Use cases: Creator monetization and fan engagement: expanded product interactivity, fan segmentation, targeted rewards; tokenized communities: proofs for connecting and social gaming, social graph, payments and joint signatures; decentralized authentication and ownership proof: luxury goods and collectibles, full-stack Flex, cryptographic signatures; digital-physical interaction: XRL gameplay, on-site minting, tokenized guestbook.
- First-principles examination – blockchain as a database
- Thoughts on NFT Whitelisting: What are the Pros and Cons? Does Ordinals Need a Whitelisting System?
- Comprehensive analysis of Stargate, a cross-chain liquidity protocol based on LayerZero: revenue, token economics…
Outlook: 1. Chips will become cheaper and available for products beyond high-end fashion, collectibles, and art; 2. Consumers will soon expect creators and community products to be embedded with chips and be able to interact with them in IRL events for future rewards; 3. DAOs and crypto communities will start using card-shaped digital physics for joint signatures and payments; 4. NFTs will increasingly be used to represent ownership of physical assets, reducing transaction costs and speeds to the level of purely digital assets; 5. Tokenized RWAs will also be utilized in NFT financial protocols.
Reference: https://news.marsbit.co/20230616072521812124.html
Like what you're reading? Subscribe to our top stories.
We will continue to update Gambling Chain; if you have any questions or suggestions, please contact us!
