Hybrid Asset Solution
Authenticity is our core focus at One of None, and that is why we have developed a physical-digital protocol to protect both brands and consumers who participate in resale. Our Hybrid Asset Solution to authentication applies the best technologies available to physical goods, preventing counterfeits from circulating in secondary markets.
Each One of None Hybrid consists of a physical product and a connected digital asset, or non-fungible token (NFT). With our Creator-down approach, we partner with Creators before their products launch, so we can customize the product verification process and corresponding smart contracts.
Each product that enters our hybrid ecosystem undergoes an initial scanning and documentation process. This ensures that our product verification team can guarantee an item’s authenticity upon each re-vaulting. By partnering with Creators prior to the release of their products, we are able to customize points of verification that connect to each individual product’s unique digital ID.
Our inventory management system currently relies on encrypted dual frequency RFID/NFC (UHF/HF) tags that are secured to each physical good; however, we are able to integrate with a variety of other physical verification technologies.
VaultBound Smart Contracts
The key to maintaining the relationship between the physical and digital is our ability to “freeze” a digital token to a Collector’s account or wallet when certain criteria are met. When a physical product leaves our vault, we scan a record into our system that disables the token’s ability to transact. This means that when Collectors redeem their physical items from our vault, they are unable to trade the corresponding digital token.
As a result, we provide the only solution in existence that allows Collectors to simultaneously possess the physical and digital while retaining the ability to resell their hybrid in the future. In order to restore the token’s ability to transact, Collectors must send us their physical product so we can authenticate it. Then, we apply a grade to all re-vaulted items and store the condition report as part of a product’s public metadata.
We currently use ERC-721 tokens that live on the Ethereum main network, and our VaultBound Smart Contracts leverage the ERC-721’s native safe-transfer function to disable or enable each token’s ability to transact. Throughout 2023, we will work to reduce network fees and appeal to a wider audience by scaling our offerings to additional blockchain networks and layer 2 chains, including Polygon and Solana.