A Chip from Americana Can Turn Physical Objects Into NFTs

A new startup gives consumers a chance to turn everyday objects into non-fungible tokens (NFTs) by simply swiping a chip. on the thing. The company, called Americana Technologies, is building a registry for the world’s physical assets and wants to use blockchain technology to verify ownership.

Americana’s Chip and the Blockchain Technology

The Americana’s chip from this new startup is similar to those used in credit cards and passports, but it has a different purpose. According to Americana, when applied to an object, it turns that thing into a digital token that can be stored on the Ethereum blockchain. The Americana’s chip can store data such as serial numbers or other information about the object it is attached to — similar in concept to what some companies are doing with QR codes today — and transfer this data onto blockchains like Ethereum or Hyperledger Fabric. The result is that the physical object now has its unique ID, which allows people to track its location through the internet — just like they would follow any other piece of digital information such as music or software code.

What You Can Do with Americana’s Chip

The idea behind these chips is to make it easier for brands and consumers to track their products — from production to sale. It also allows brands to check whether the product has been stolen or tampered with during transit. Anyone with something valuable in their possession can now register it on the blockchain and make it available for trade online. If you have a Picasso hanging on your living room wall, you can directly sell it by simply taking a picture of it with your smartphone.

Explore more at:

Tech Crunch: https://techcrunch.com/2022/05/03/americana-chip-turns-objects-nfts-funding-ohanian/

Daily Advent: https://www.dailyadvent.com/news/7dd8c8368c2a8dd51fae9a3b97e92a90-Americanas-chip-turns-physical-objects-into-NFTs

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