A new startup in the field of technology uses blockchain technology and NFTs to determine authentic football kits and then clamp down on counterfeits.
NEW TECH IDENTIFIES LEGIT FOOTBALL KITS
The fake football market has been around for at least longer than the market that is officially recognized. The fake jersey market has been a long way since the days of being immediately identifiable as fakes, and many are nearly identical to authentic ones. Counterfeiters are meticulously replicating authentic labels while paying to the finer details even though a lot of buyers are willing to buy fakes, there are people who fall for believing they’ve got the real authentic product, when in fact that’s not the case.
CollectID is a business that has joined forces with teams like FC Zurich, Atletico Mineiro, and Deportivo la Coruna to create special tags for their shirts that can be read, identifying authentic merchandise. This is accomplished by utilizing blockchain technology and Internet of Things technology, and also the use of NFTs to advertise and sell additional products. The site explains the technology in this manner:
They are fitted with secured collected NFC tags that provide an individual, secure message that alters with each interaction, making it difficult to replicate the tags. This creates a constantly secured and unique identifier for every product. The identity is then given to the owner of the product then tokenized and stored in the Blockchain. Due to the blockchain’s immutability, it is possible to ensure that the collected ecosystem is a secure solution that eliminates the incentive to make money and the possibility of selling counterfeit goods.
In addition to verification, CollectID serves another function:
Brands are able to place their advertising directly on the product to improve customer engagement by extending the experience of shopping. The first time the brands can earn revenue through secondary trading. Furthermore, they are provided with precise data and analysis on resale markets as well as their clients. This means that brands transform their products into an effective sales and communication channel while ensuring that their product is authentic.
It’s a Deportivo shirt that was made using CollectID technology.
It’s clear from the text from their website (and viewing the short video) that the principal goal for this tech is to extort the maximum amount of money from their supporters as much as possible and not provide them with security against counterfeit goods. The ability to distinguish genuine shirts from counterfeits is a valuable ability, but the inclusion of NFTs in the project isn’t the most enticing sign.
What do you think of this technology? CollectID? Would you be pleased when your club joined forces with them to incorporate the technology into their kits? Tell us by leaving a comment.
