Mighty Jaxx, which was founded in 2012, has partnered with some of the biggest global brands andAw said the company has since sold millions of toy collectibles to people in more than 80 countries.
Jackson Aw's advice for young entrepreneurs? "Fear will always exist. But the question is, what do you make of that?""When you want to sell the product, the number one question everywhere is 'Is it authentic?'" Mighty Jaxx designed a Near-Field Communication chip, that is embedded into each toy. "With our app, you can [scan the chip], register your ownership of the item," said the company's founder Jackson Aw.Mighty Jaxx designed a near-field communication chip and embedded one into each toy. NFC technology enables short-range, wireless communication between two devices.
Powered by blockchain, the platform issues and validates unique, tamperproof certificates for every product. It also provides a digital footprint when ownership of an item changes.