a digital “loot box" comprising various NFT products, including a redesigned Coca-Cola logo and a virtual jacket.Businesses have unsuccessfully tried to combat sales of counterfeited products for years. However, new research shows NFTs may help turn the tide against counterfeiters.
Applied to the world of commerce, an NFT tied to a physical product can help limit counterfeiting cases. Customers could scan the NFT barcode on an item to confirm its originality. This is already happening in the luxury goods industry, with Ackerwines, a specialty winemaker,This technology can also protect other items businesses would rather were not counterfeited. That includes event tickets, discount coupons, ownership certificates, licenses, and many more.
Beyond creating buzz for a business, this tactic may help raise its profile and improve public perception.One of the best business use cases for NFTs is in supply chain management. Stamping NFT-enabled tags on physical commodities makes it easier for businesses to track items across the supply chain. Each NFT can be updated with relevant information at different points of the production process.