This company provides a platform for creating digital twins of physical products, linking a digital ID and cloud storage to each item. This "phygital passport" enables authentication, provenance tracking, and facilitates sales through NFT marketplaces, benefiting both brands and consumers by increasing trust and transparency.
Funding
Funding not disclosed
Founders
Product
Problem
Counterfeit products, especially in luxury and collectible markets, lead to significant revenue loss for vendors and erode consumer trust due to the difficulty in verifying authenticity and provenance. Existing methods are often inadequate, failing to provide robust, easily verifiable proof of origin and ownership.
Solution
Decentryk offers a solution to combat counterfeiting and enhance product authentication through Digital Product Passports (DPPs). These DPPs link physical items to a digital identity using a patent-pending Phygital ID technology, combining laser engraving, blockchain verification, and AI analysis. Each item receives a permanently linked digital fingerprint and Web3 cloud storage, enabling instant authentication via a smartphone app. Verified owners can connect the scanned QR code to an NFT in their digital wallet, facilitating file uploads, secure online sales, and AI-driven analysis. This approach provides a dynamic, traceable, and permanent digital profile for physical assets, redefining authenticity and provenance.
Target Audience
Decentryk targets luxury goods vendors, including those in wine and spirits, exotic cars, watches and jewelry, fashion, and collectibles, as well as consumers seeking to verify the authenticity and provenance of their purchases.
Features
- Permanent physical ID laser engraved on the physical item, scannable with a smartphone.
- Permanent digital ID (NFT) traceable via the blockchain.
- Encrypted algorithm to create a verifiable phygital ID from physical & digital IDs.
- Web3 cloud storage account for managing item-related files.
- AI analysis and tracking data for physical/digital IDs and item-related files.
- Smartphone authentication of both the physical item and its owner.
- Post-retail tracking and analysis of item use and user behavior.
- Optional LaserMinter for vendors to create DPPs on various materials.